Question

A monopoly is a market that has

few competing businesses.
many sellers of the same item.
many sellers of a variety of products.
a single supplier of a good or service.

Answer 1

A monopoly is a market that has **a single supplier of a good or service**. In a monopoly, one company or entity dominates the market, controlling the supply and pricing of a particular good or service, with no close substitutes available.