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What is a monopoly?

a system in which people earn wages and buy the goods and services they choose


a market that has only one seller of a product, and the seller can influence the price of the product


a business owned by many people called stockholders


a market that relies on the trading of goods and services without the use of money

User Jamal Khan
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2 Answers

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Answer: B. a market that has only one seller of a product, and the seller can influence the price of the product

Explanation: I got it in k12 Good luck on the test!!

User Guilherme Soares
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6 votes
Hey :)

A monopoly is a market that has only one seller of a product, and the seller can influence the price of the product


Another definition is: A monopoly is a market structure characterized by a single seller, selling a unique product in the market

Hope this helps!
User Kobynet
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