WAEC Economics 2013 Objective — Question 18
Question 18 of 50 from the West African Examinations Council (WAEC) Economics 2013 Objective paper, with the correct answer and a full explanation.
Advertisement
The type of monopoly that develops as a result of uneven distribution of resources is called
- A. legal monopoly
- B. natural monopolyCorrect
- C. state monopoly
- D. international monopoly
Explanation
A natural monopoly is one in which there is only one seller of a commodity because that seller alone is endowed with the natural resource required for production.
Advertisement
Sign up free to unlock
- Score tracking
- Practice history
- Saved questions
- Progress dashboard
- Personalized sessions
- Weak-topic breakdown
…and/or go further with premium services and No Ads.