The economic situation in which only a single seller or producer supplies a commodity or a service is called:

Related MCQs

• An industry in which technical factors preclude the efficient existence of more than one producer. This situation is called:
• If the change in demand for a commodity is at a faster rate than change in the price of the commodity, the demand is -
• The dominant body of economic thinking, economic method and economic style in the period from 18th to 19th century is termed as
• Two sellers only of a good or service in a market. This situation is:
• An economic good or commodity purchased by households for final consumption is called:
• The term used to describe a sharp slowdown in the rate of economic growth or a modest decline in economic activity is called:
• An arrangement between a seller and buyer under which a period of credit is allowed before payment is called:
• In an organized market, an intermediary between a buyer and a seller is called:
• The action taken by a buyer or seller to product his business or assets against a change in prices is called
• he non-expenditure costs which arise when the producing firm itself owns and supplies certain factors of production are -