Question

Normander Corp. is a large media corporation that owns all the media outlets in Liecheben and a few news agencies internationally. Any new media company that tries to establish itself in Liecheben soon runs out of business because of the overpowering presence of Normander Corp. This scenario exemplifies _____.

Answer 1

Answer:

The correct answer is letter "B": monopoly.

Explanation:

A monopoly exists when one business is the sole or almost sole supplier of a good or service within a market.  This potentially allows the business to become dominant enough to prohibit rivals from entering the marketplace resulting in minimal consumer choice, higher prices, and reduced response to customer requests.