4 Views

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


Team Careers360 6th Jan, 2024
Answer (1)
Team Careers360 12th Jan, 2024

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.

SSC CGL Complete Guide

Candidates can download this ebook to know all about SSC CGL.

Download EBook

Know More About

Related Questions

TOEFL ® Registrations 2024
Apply
Accepted by more than 11,000 universities in over 150 countries worldwide
Manipal Online M.Com Admissions
Apply
Apply for Online M.Com from Manipal University
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books