Question

In Croatia, there is only one company that provides all of the telephone services for the entire country. What is this called?

Answer 1

Answer:

It's Monopoly

Explanation:

Just took the test and got it correctz;)

Answer 2

Since in Croatia, there is only one company that provides all of the telephone services for the entire country, this is called a monopoly.

What is a monopoly?

A monopoly can be defined as a type of market structure which is typically characterized by a single supplier (seller) or service provider, who sells and provide a unique product or service in the market, especially through dominance.

This ultimately implies that, monopoly is a market structure wherein the single supplier (seller) or service provider has no competitor because he or she is solely responsible for the sale of a unique product or service, without any close substitute.

Read more on monopoly here: brainly.com/question/13113415

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