Which of the following is a characteristic of oligopoly? MCQ with Answer and Explanation

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Which of the following is a characteristic of oligopoly?

A. Perfect information and no barriers

B. Homogeneous product with free entry

C. Interdependence among firms

D. Large number of independent sellers

Answer: Option C

Solution (By JKSSB Mock Tests)

Oligopoly is characterised by a few firms that are interdependent in their decision-making, as the actions of one firm affect the others.

This question belongs to: Economy GK Economy Set 1

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Correct Answer: Option C

Explanation:
KYC norms help banks verify customer identity to prevent money laundering and fraud.

This question belongs to: Economy GK Economy Set 1

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