Question

_____ is a market structure that has few sellers who can influence the price. Products can be identical or differentiated, such as in the steel or car markets.

Answer 1

The answer is : Olygopoly

In Olygopoly, the market will be dominated by a small amount of sellers. This will make it harder for the customers to find the products that they want and give the sellers a power to influence the price with a really low risk.

For example, only a few companies in china that have the power to distribute original Apple's product. This will make that companies able to increase the price above average market since the Chinese couldn't get it anywhere else.