Which One of the Following Is the Best Example of an Oligopolistic

question 303

Multiple Choice

Which one of the following is the best example of an oligopolistic industry?

• A) cigarettes
• B) wheat growers
• C) apple growers
• D) public utilities

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Definitions:

Abductive Reasoning

A form of logical inference that starts with an observation then seeks to find the simplest and most likely explanation.

Deductive Reasoning

Reasoning from a general statement, premise, or principle, through logical steps, to figure out (deduce) specifics. Also called top-down reasoning.

Digital Natives

Individuals who have been exposed to digital technology from a young age, often considered fluent in the use of computers, the internet, and digital devices.

Low-SES

Stands for low socioeconomic status, indicating individuals or families with limited financial resources and access to opportunities.