Which of the Following Would Be the Best Example of an Oligopolistic

question 148

Multiple Choice

Which of the following would be the best example of an oligopolistic industry?

• A) agriculture
• B) large aircraft manufacturing
• C) the local water supply
• D) retail convenience stores

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Definitions:

Flood Insurance Premiums

The payments made periodically to an insurance company in exchange for coverage against loss or damage caused by flooding.

Positive Correlation

A relationship between two variables where they move in the same direction, meaning as one variable increases, so does the other.

Organized-Gambling Venues

Places such as casinos or sports betting facilities where gambling activities are regulated and officially sanctioned.

Risk-Loving Individuals

Persons who prefer outcomes with more risk for the chance of higher rewards, as opposed to safer options.