Which market structure is characterized by a few dominant firms controlling the industry?
صنعت کو کنٹرول کرنے والی چند غالب فرموں کی طرف سے کون سی مارکیٹ ڈھانچہ ہے؟
Answer: Oligopoly
Explanation
An oligopoly is a market with few large firms dominating the industry.
These firms often influence prices and market decisions due to limited competition.
A Monopoly exists when there is only one seller in the market.
The product offered has no close substitutes, giving the seller full pricing power.
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