The Market Situation in Which Only a Few Large Firms

question 53

Multiple Choice

The market situation in which only a few large firms compete in offering very similar marketing mixes to customers is called

• A)pure competition.
• B)oligopoly.
• C)capitalistic competition.
• D)monopolistic competition.
• E)monopoly.

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Definitions:

Complete

To finish all parts of a task or duty fully and to satisfaction.

Contract Condition

A provision in a contract that specifies a requirement or event that must occur or be met for the contract or a part of it to be fulfilled or enforced.

Discharged

In legal terms, refers to the completion or termination of an obligation, such as a debt or duty, often resulting in release from responsibility.

Discharge a Contract

The termination of a contractual obligation, either through fulfillment of the contract terms, mutual agreement, or other legal means.