Get Started
293

Q:

What is a market with a small number of large firms called?

  • 1
    Dual rights
  • 2
    Competition
  • 3
    Oligopoly
  • 4
    Monopoly
  • Show Answer
  • Workspace

Answer : 3. "Oligopoly"
Explanation :

An oligopoly refers to a market structure that consists of a small number of firms, who together have substantial influence over a certain industry or market. While the group holds a great deal of market power, no one company within the group has enough sway to undermine the others or steal market share.

The Most Comprehensive Exam Preparation Platform

Get the Examsbook Prep App Today