Term the exclusive right of one or more persons to carry on some branch of trade of manufacture It is a sole power of dealing in something ?
Correct answer: D. Monopoly
- A. Encroachment
- B. Monotony
- C. Unipolarity
- D. Monopoly
Explanation
A monopoly gives one person or group exclusive control over supplying a particular good, service, or branch of trade. Encroachment means unauthorized intrusion, while monotony means lack of variety.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
About Microeconomics
Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
Practise Microeconomics
1,742 free Microeconomics MCQs from Economics, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Economics questions like this
Economics is on 3 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Microeconomics questions
What is mortgage______________?
Which term is used for the value imprinted on a security ?
Which term is used for the period of competition in which each competitor tries to cut retail prices below the others ?
The branch of economics 'Microeconomics' deals with______________?
The term Mark-up refers to________________?
Name the company in which the liability of the shareholders is limited to the amount of their shares ?