Question : In which market form a market or an industry is dominated by a few firms?
Option 1: Perfect competition
Option 2: Monopoly
Option 3: Oligopoly
Option 4: Monopolistic
Correct Answer: Oligopoly
Solution : The correct answer is Oligopoly .
An oligopoly is a market or industry dominated by a few enterprises. In an oligopoly, a limited number of companies produce a comparable product or service. An oligopoly's companies are interconnected, which means their price and output decisions impact each other. Oligopolies can form as a result of a variety of circumstances, including economies of scale, significant entry barriers, and government regulation.
Related Questions
Know More about
Staff Selection Commission Combined Grad ...
Result | Eligibility | Application | Selection Process | Preparation Tips | Admit Card | Answer Key
Get Updates Brochure
Your Staff Selection Commission Combined Graduate Level Exam brochure has been successfully mailed to your registered email id “”.
