ECONOMICS Question 1 of 10
A market condition featuring a small group of producers controlling the
supply of a good is called
A. monopolistic competition
B. a monopoly
C. an oligopoly
D. pure competition

If there is only one dominant seller in the market, it is said to be a monopoly; otherwise, it is an oligopoly, which refers to a situation in which there are several sellers.

Thus, In an oligopoly, a few businesses dominate the market. However, no one business can prevent the others from exerting major influence over the sector, and they may all sell slightly different items.

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**ECONOMICS** Question 1 of 10 A market condition featuring a small group of producers controlling the supply of a good is called A. monopolistic competition B. a monopoly C. an oligopoly D. pure competition

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What is the difference between Monopoly and Oligopoly?

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ECONOMICS Question 1 of 10
A market condition featuring a small group of producers controlling the
supply of a good is called
A. monopolistic competition
B. a monopoly
C. an oligopoly
D. pure competition