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- Subject
- Economics Mcqseconomics-mcqs
- Published
- 9 Aug 2021
- Last updated
- 28 May 2026
What does the term 'oligopoly' refer to?
Multiple choice question for Economics Mcqs. Select an option, then review the explanation below.
Explanation
An oligopoly is a market structure where a few large firms control the majority of the market share, unlike a monopoly which involves only one supplier.
More Economics Mcqs
Practice related questions from the same subject.
- 1.According to the World Bank, countries are grouped into four categories based on which of the following criteria?
- 2.Automatic stabilizers belong to which category of economic policy tools?
- 3.What is the likely effect of an increase in the money supply?
- 4.Which economic concept illustrates the inverse connection between inflation and unemployment?
- 5.Which of the following does not constitute a part of the Gross Domestic Product (GDP)?