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Answer : 3. "Oligopoly"
What is a market with a small number of large firms called?
5Q:
What is a market with a small number of large firms called?
- 1Dual rightsfalse
- 2Competitionfalse
- 3Oligopolytrue
- 4Monopolyfalse
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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.