{"id":8679,"date":"2024-04-15T03:04:26","date_gmt":"2024-04-15T03:04:26","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=8679"},"modified":"2024-04-15T03:04:26","modified_gmt":"2024-04-15T03:04:26","slug":"what-market-situation-exists-where-there-are-few-sellers-and-few-buyers-a-oligopoly-b-oligopsony-c-bilateral-oligopoly-d-bilateral-oligopsony","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/what-market-situation-exists-where-there-are-few-sellers-and-few-buyers-a-oligopoly-b-oligopsony-c-bilateral-oligopoly-d-bilateral-oligopsony\/","title":{"rendered":"What market situation exists where there are few sellers and few buyers? A. Oligopoly B. Oligopsony C. Bilateral Oligopoly D. Bilateral Oligopsony"},"content":{"rendered":"<p>\r\n    <!-- Check if it's an AMP page -->\r\n            <!-- Non-AMP version -->\r\n        <div class=\"mcq-container\" data-quiz-id=\"quizState_6a9a3735ecbde\">\r\n                                            <div class=\"option\" data-option-key=\"option1\" data-is-correct=\"true\">\r\n                    Oligopoly                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option2\" data-is-correct=\"false\">\r\n                    Oligopsony                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option3\" data-is-correct=\"false\">\r\n                    Bilateral Oligopoly                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option4\" data-is-correct=\"false\">\r\n                    Bilateral Oligopsony                <\/div>\r\n                            \r\n            <!-- Feedback messages for non-AMP -->\r\n            <div class=\"feedback\" data-feedback=\"wrong\">Answer is Right!<\/div>\r\n            <div class=\"feedback\" data-feedback=\"right\">Answer is Wrong!<\/div>\r\n        <\/div>\r\n\r\n        <script>\r\n        document.addEventListener('DOMContentLoaded', function () {\r\n            var containers = document.querySelectorAll('.mcq-container');\r\n\r\n            containers.forEach(function(container) {\r\n                var options = container.querySelectorAll('.option');\r\n                var feedbackSelect = container.querySelector('[data-feedback=\"select\"]');\r\n                var feedbackWrong = container.querySelector('[data-feedback=\"wrong\"]');\r\n                var feedbackRight = container.querySelector('[data-feedback=\"right\"]');\r\n\r\n                options.forEach(function(option) {\r\n                    option.addEventListener('click', function() {\r\n                        var selectedOption = option.getAttribute('data-option-key');\r\n                        var isCorrect = option.getAttribute('data-is-correct') === 'true';\r\n\r\n                        \/\/ Remove previous selections\r\n                        options.forEach(function(opt) {\r\n                            opt.classList.remove('correct', 'incorrect');\r\n                        });\r\n\r\n                        \/\/ Add the correct\/incorrect class\r\n                        if (isCorrect) {\r\n                            option.classList.add('correct');\r\n                            feedbackRight.hidden = false;\r\n                            feedbackWrong.hidden = true;\r\n                        } else {\r\n                            option.classList.add('incorrect');\r\n                            feedbackRight.hidden = true;\r\n                            feedbackWrong.hidden = false;\r\n                        }\r\n\r\n                        \/\/ Hide select feedback\r\n                        feedbackSelect.hidden = true;\r\n                    });\r\n                });\r\n            });\r\n        });\r\n        <\/script>\r\n    \r\n    <!--more--><\/p>\n<p>The correct answer is: A. Oligopoly.<\/p>\n<p>An oligopoly is a market structure in which a small number of large sellers dominate the market. This means that each seller has a significant amount of market power, and can therefore influence the price of their products. Oligopolies can be formed in a number of ways, including through mergers and acquisitions, collusion, or simply because there are only a limited number of firms that can compete in a particular market.<\/p>\n<p>Oligopolies can have a number of negative effects on the economy. They can lead to higher prices, lower quality products, and less innovation. They can also make it difficult for new firms to enter the market.<\/p>\n<p>Bilateral oligopoly is a market structure in which there are a small number of buyers and a small number of sellers. This type of market structure is often found in industries where there are a few large buyers and a few large sellers. Bilateral oligopolies can be difficult to manage, as both buyers and sellers have <div class=\"telegram-channel-container\">\r\n        <a href=\"https:\/\/t.me\/pscnotes2025\" target=\"_blank\" class=\"telegram-channel-button\">\r\n            <span class=\"telegram-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 496 512\">\r\n                    <path fill=\"white\" d=\"M248,8C111,8,0,119,0,256s111,248,248,248s248-111,248-248S385,8,248,8z M362,177L320,367c-3,14-10,18-20,14l-56-41l-27,26 c-3,3-5,5-10,5l4-63L323,196c5-5-1-7-8-3l-98,62l-42-13c-9-3-10-9,2-14l162-63C351,160,365,164,362,177z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Join Our Telegram Channel\r\n        <\/a>\r\n    <\/div> a significant amount of market power.<\/p>\n<p>Oligopsony is a market structure in which there are a small number of buyers and a large number of sellers. This type of market structure is often found in industries where there are a few large buyers and a large number of small sellers. Oligopsonies can be difficult to manage, as buyers have a significant amount of market power and can therefore influence the prices that they pay.<\/p>\n<p>D. Bilateral oligopsonies are a market structure in which there are a small number of buyers and a small number of sellers. This type of market structure is often found in industries where there are a few large buyers and a few large sellers. <div class=\"youtube-subscribe-container\">\r\n        <a href=\"https:\/\/www.youtube.com\/channel\/UCNHT8lW-JmLC68rjBfZhdkg?sub_confirmation=1\" target=\"_blank\" class=\"youtube-subscribe-button\">\r\n            <span class=\"youtube-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 576 512\">\r\n                    <path d=\"M549.7 124.1c-6.3-23.7-24.8-42.3-48.3-48.6C458.8 64 288 64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Subscribe on YouTube\r\n        <\/a>\r\n    <\/div> Bilateral oligopsonies can be difficult to manage, as both buyers and sellers have a significant amount of market power.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Subscribe on YouTube<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[656],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What market situation exists where there are few sellers and few buyers? 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