Question

Which is a market structure characterized by at least some competition between producers?

Responses

monopoly

monopoly

oligopoly

oligopoly

socialist planning

socialist planning

command economy

Answer 1

The market structure characterized by at least some competition between producers is **oligopoly**. In an oligopoly, a few firms dominate the market and have significant influence over prices and supply, but they still compete with each other to some extent. In contrast, a monopoly is a market structure where a single producer controls the entire market with no competition.