Oligopoly Differs from Monopoly as Follows

question 118

Multiple Choice

Oligopoly differs from monopoly as follows:

• A) Oligopoly involves a few firms; monopoly involves a single firm.
• B) Oligopoly does use advertisement; monopoly does not use advertisement.
• C) Oligopoly involves free entry; monopoly involves no free entry.
• D) Oligopoly involves a few firms; monopoly involves a single firm and oligopoly involves free entry; monopoly involves no free entry.

---

Definitions:

Partnerships

A legal form of business operation between two or more individuals who share management and profits.

Bankruptcy Filing

The legal process undertaken by individuals or businesses that cannot meet their financial obligations, to seek relief from some or all of their debts.

Creditors

Individuals or institutions that lend money or extend credit, expecting repayment in the future under agreed terms.

Repayment Period

The time frame during which a borrower is required to pay back a loan or debt.