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Question

Question
Which of the following describes a monopoly?
(1 point)
Responses

One country takes control of an area to extract its resources and relocate its people there.
One country takes control of an area to extract its resources and relocate its people there.

One country controls all the trade with other countries and does not allow private property.
One country controls all the trade with other countries and does not allow private property.

One country has the exclusive opportunity to provide a particular product with no competition.
One country has the exclusive opportunity to provide a particular product with no competition.

One country controls the trade of another country through threats of military takeover.
One country controls the trade of another country through threats of military takeover.

Answer 1

The statement that best describes a monopoly is:

"One country has the exclusive opportunity to provide a particular product with no competition."

A monopoly occurs when a single entity is the sole provider of a product or service, effectively eliminating competition in that market.