Commerce MCQS - QUESTION DETAILS
In commerce, what does the term "monopoly" signify?
A. A market structure with a single seller
B. A market structure with many small sellers
C. A market structure with a few large sellers
D. Government intervention in the market

A monopoly is a market structure characterized by a single seller dominating the industry, often with no close substitutes.

Similar Questions

What is the purpose of the General Agreement on Tariffs and Trade (GATT) in commerce?





What is the primary purpose of a balance of trade in international commerce?





What is the purpose of market research in commerce?





In commerce, what is economics primarily concerned with?





What is the primary objective of consumer protection laws in commerce?





What is the primary function of the International Monetary Fund (IMF) in commerce?





Which entity regulates commerce and ensures fair business practices in many countries?





In commerce, what does the term "supply chain" refer to?





What is the primary goal of risk management in commerce?





Which aspect of commerce focuses on efficient resource utilization and production processes?