πŸ“’ Too many exams? Don’t know which one suits you best? Book Your Free Expert πŸ‘‰ call Now!

  • google app store apple app store
  • βœ–

      Question

      A market which is dominated by a small number of firms and together they control majority of the market share is called?

      A Monopoly Correct Answer Incorrect Answer
      B Oligopony Correct Answer Incorrect Answer
      C duopoly Correct Answer Incorrect Answer
      D Perfect Competition Correct Answer Incorrect Answer

      Solution

      Oligopoly markets are markets dominated by a small number of suppliers. They can be found in all countries and across a broad range of sectors. Some oligopoly markets are competitive, while others are significantly less so, or can at least appear that way.

      Practice Next

      Relevant for Exams:

      ask-question