Answer :
Answer: B. An oligopoly.
Explanation: Economics (2020) Unit 2.3.4 Quiz: Market Structures
A market condition featuring a small group of producers controlling the supply of a good is called B. an oligopoly
What is an example of a oligopoly?
Oligopoly arises when a small number of large firms have all or most of the sales in an industry. Examples of oligopoly abound and include the auto industry, cable television, and commercial air travel. Oligopolistic firms are like cats in a bag.
What is oligopoly and its characteristics?
An oligopoly is an industry which is dominated by a few firms. In this market, there are a few firms which sell homogeneous or differentiated products. Also, as there are few sellers in the market, every seller influences the behavior of the other firms and other firms influence it.
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