The correct response is "monopoly."
Josiah's pet supply store is the only place to buy pet products in the area, which means he has complete control over the market for those products.
Question
Josiah owns and operates the only pet supply store in his town. There are no other places to buy pet food for over 200 miles and internet service is not always reliable in this small community. This means that Josiah’s one company completely controls the sale of pet products in his area, essentially giving him a what?
(1 point)
Responses
scarcity
scarcity
hindrance
hindrance
monopoly
monopoly
disadvantage
1 answer