Question

A company that dominates the production of a specific good or service to the point of there being limited to no competition within the industry, is known as a

a. controlled producer
c. corporation.
b. cartel.
d. monopoly.

Answer 1

The best option here is monopoly.

Monopoly refers to the exclusive control (or a near-exclusive) of some agent, company or corpoation over some part of the economy, product or service in a way that this agent can control the prices almost without any influence from the outside.