Question

When one group controls an industry or market by being the only provider, this is called _____. imperialism a monopoly despotism capitalism

Answer 1

The answer would be B. A monopoly

Answer 2

It is called monopolism. This is when there is only one seller of a good or service. In some cases, this is when one company uses cutthroat competition to buy smaller companies until there is no more competitors in the market. Monopoly has been criticized when it uses this method and in some countries it is against the law.