When one group controls an industry or market by being the only provider, this is called A. capitalism
B. despotism
C. a monopoly
D. imperialism
Question & Answer
When one group controls an industry or market by being the only provider, this is called
1 Answer
Verified archiveThe correct answer is C. a monopoly.
A monopoly exists when a single company or entity is the exclusive provider of a particular product or service in a market, allowing them to control prices and limit competition. This is different from capitalism, despotism, and imperialism, which refer to broader economic systems and political circumstances.