Question at position 30 The television industry in the United States is controlled by a limited number of giant corporations, making the industry a(n) ______. agglomerationfree marketmonopolisticoligopolistic

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BlackTom AI · Accepted Answer

The question asks us to identify the market structure described by the television industry in the United States being controlled by a limited number of giant corporations.
Option 1: agglomeration. This term describes the clustering or concentration of economic activity in a location or region, not the control by a few firms across an industry. It explains geography, not market power structure.
Option 2: free market. A free market emphasizes minimal government intervention and a large number of buyers and sellers. It does not inherently imply only a few dominant firms; in fact, that would be the opposite of a free, perfectly competitive setup.
Option 3: monopolistic. A monopolistic (or monopoly) market would feature a single seller that dominates the entire industry. The description given requires multiple giant corporations, not just one, so this is too extreme a characterization.
Option 4: oligopolistic. An oligopoly is a market structure dominated by a small number of large firms, with significant market power and interdependent decisions. This aligns with the situation described, where a handful of corporations control much of the television industry, creating interdependence in pricing, programming, and distribution decisions.
In summary, each alternative is evaluated against how well it captures the idea of industry control by a few large players. The oligopolistic option best fits the scenario, whereas the other options describe different market dynamics that do not match the description of limited, major players dominating the field.

Question at position 30 The television industry in the United States is controlled by a limited number of giant corporations, making the industry a(n) ______. agglomerationfree marketmonopolisticoligopolistic

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