In Marketing, the Form of Competition That Occurs When Only

question 172

Multiple Choice

In marketing, the form of competition that occurs when only one firm sells the product is referred to as

• A)pure competition.
• B)a megopoly.
• C)an oligopoly.
• D)monopolistic competition.
• E)pure monopoly.

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Definitions:

Preemptive Practices

Strategies or actions taken by a business to prevent competitors from entering their market or to gain an advantage over them.

Small Businesses

Companies with limited revenue and staff, playing a vital role in the economy by providing localized services and innovations.

Private-Sector Employees

Refers to individuals who are employed by businesses or organizations that are not owned or operated by the government.

Robinson-Patman Act

A 1936 United States law aimed at preventing unfair competition and price discrimination by requiring sellers to offer the same price terms to all buyers.