The Market Structure in Which There Is a Single Supplier

question 304

Multiple Choice

The market structure in which there is a single supplier of a good or service for which there is no close substitute is

• A) oligopoly.
• B) perfect competition.
• C) monopoly.
• D) monopolistic competition.

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Definitions:

Dominates

To have control or exert the greatest influence over a particular situation, area, or group.

Increasing Chances

Efforts made to enhance the likelihood of achieving a desired outcome or success.

Capabilities

The skills, resources, and abilities that an organization or individual possesses.

Demands

Requests or calls for something to be supplied or performed, often with a sense of urgency or necessity.