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A market in which a few sellers dominate is called
AOligopoly
BDuopoly
CMonopoly
DPerfect competition
Answer & Solution
Correct answer: A. Oligopoly
1. Oligopoly = a small number of large firms control the market.
2. Examples include telecom and aviation in many countries.
3. Monopoly = one seller; duopoly = exactly two; perfect competition = many small sellers.
4. Hence (C) is correct.
_Source: Maharashtra Balbharati Std XII OCM, Ch 4 "Marketing", §4.5 ¶§4.5_
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