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.
Which is a market structure characterized by at least some competition between producers?
Responses
monopoly
monopoly
oligopoly
oligopoly
socialist planning
socialist planning
command economy
1 answer
1 answer