CIPS Exam L3M1 Topic 4 Question 14 Discussion

Actual exam question for CIPS's L3M1 exam

Question #: 14
Topic #: 4

[All L3M1 Questions]

A market situation where there is only one supplier is called:

AOligopoly

BImperfect competition

CMonopsony

DMonopoly

Show Suggested Answer

Suggested Answer: D

The correct answer is, of course, 'monopoly'.

by Candida at Jul 03, 2024, 02:11 PM

Limited Time Offer

25%

Off

Get Premium L3M1 Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Denise

5 months ago

Monopoly, like the board game? Nah, just kidding. I think D) Monopoly is the correct answer here.

upvoted 0 times

Jeniffer

3 months ago

It can lead to higher prices for consumers.

upvoted 0 times

...

Donette

3 months ago

Monopoly is when there is only one supplier in the market.

upvoted 0 times

...

Annett

3 months ago

I agree, D) Monopoly is the correct answer.

upvoted 0 times

...

Twana

3 months ago

Monopoly is not just a board game, it's also an economic term for a market situation with a single supplier.

upvoted 0 times

...

Leonardo

5 months ago

I agree, Monopoly is the term used for a market with only one supplier.

upvoted 0 times

...

Starr

5 months ago

Yes, you're right! Monopoly is the correct answer.

upvoted 0 times

...

Sharita

5 months ago

Hey, if there's only one supplier, wouldn't that mean they have a monopoly on the market? I'm going with D) Monopoly.

upvoted 0 times

...

Thomasena

5 months ago

Hmm, I'm not sure. I'm leaning towards B) Imperfect competition, but I could be wrong. Economics isn't my strongest subject.

upvoted 0 times

Martina

5 months ago

I'm not sure, but I think it might be C) Monopsony.

upvoted 0 times

...

Grover

5 months ago

I think it's D) Monopoly.

upvoted 0 times

...

Talia

6 months ago

I think the answer is A) Oligopoly. When there are a few dominant suppliers, that's an oligopoly, right?

upvoted 0 times

Rene

5 months ago

Actually, the correct answer is D) Monopoly. A monopoly is when there is only one supplier in the market.

upvoted 0 times

...

Samira

5 months ago

Yes, you're correct! An oligopoly is when there are only a few suppliers dominating the market.

upvoted 0 times

...

Daren

6 months ago

I believe Monopoly is the correct answer because it's when there is only one supplier controlling the market.

upvoted 0 times

...

Fannie

6 months ago

I'm not sure, but I think it could also be C) Monopsony.

upvoted 0 times

...

Valentin

6 months ago

I agree with Lauran, Monopoly makes sense in that situation.

upvoted 0 times

...

Lauran

6 months ago

I think the answer is D) Monopoly.

upvoted 0 times

...

Fletcher

6 months ago

Definitely D) Monopoly. I remember learning about this in my economics class. There can only be one supplier in a monopoly market.

upvoted 0 times

Melissa

5 months ago

I agree, monopoly is the correct answer. It's important to understand different market structures in economics.

upvoted 0 times

...

Latrice

6 months ago

Yes, you're right! Monopoly is when there is only one supplier in the market.

upvoted 0 times

...