Market situation where there is only one buyer is ........

Market situation where there is only one buyer is:

Monopoly

Monopsony

Duropoly

None of these

- Option 1: Monopoly

- This describes a market with only one seller.

- The seller controls the supply and price of the product or service.

- Option 2: Monopsony

- This refers to a market with only one buyer.

- The buyer has significant power over the price and demand of goods or services.

- Correct Answer

- Option 3: Duropoly

- This is not a common term in economic literature.

- It is likely a fictional or incorrect option in this context.

- Option 4: None of these

- This option would apply if none of the above definitions were correct.

Submit Error