Which of the Following Is the Best Example of an Oligopoly

question 20

Multiple Choice

Which of the following is the best example of an oligopoly situation?

• A) Grocery retailers in Miami.
• B) A community in the mountains with one electric power company.
• C) A farmers' market with many farmers selling peaches.
• D) A small airport with two airlines going to different destinations.
• E) Most of the aluminum in the U.S. is sold by three producers.

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Definitions:

Unconscious Mind

A part of the mind that is inaccessible to the conscious mind but that affects behavior and emotions.

Conscious Mind

The aspect of the mind that involves awareness of the self, the environment, and one's thoughts and experiences.

Latency Stage

A phase in Freud's psychosexual development theory occurring in childhood, where sexual urges are repressed, allowing for focus on social and intellectual growth.

Formal Education

The structured, systematic instruction and training provided by schools and institutions, leading to recognized qualifications.