What is the term for a market structure with a single seller? (2023)

What is the term for a market structure with a single seller? (2023)

Step 1: Understand what a market structure is. It refers to how a market is organized based on the number of sellers and the type of products they sell.
Step 2: Identify the types of market structures. Common types include perfect competition, monopolistic competition, oligopoly, and monopoly.
Step 3: Focus on the term 'single seller.' This means there is only one company or individual selling a product or service.
Step 4: Recognize that when there is only one seller in a market, that seller has complete control over the market.
Step 5: Conclude that the term for a market structure with a single seller is 'monopoly.'

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