We Refer to a Situation in Which a Few Large

question 53

Multiple Choice

We refer to a situation in which a few large firms can effectively control their industry as a(n) :

• A)monopoly.
• B)primary product.
• C)favorable term of trade.
• D)oligopoly.
• E)export-oriented industry.

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Definitions:

Per-annum Rate

Another term for annual rate, indicating the interest rate or growth rate over a single year.

Bank Loan

Money lent by a bank to a customer, usually with interest, that is expected to be repaid within a certain period.

Outstanding Principal

The remaining amount of money borrowed that has not yet been repaid.

Accrued

Accumulated over time but not yet paid or received, typically referring to interest or income.