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Precise association for ‘‘monopoly’’: select the option that expresses the defining market property from {corrupt, exclusive, rich, gigantic}.

Difficulty: Easy

Correct Answer: exclusive

Explanation:

We align the term with its central economic characteristic.

  • Prompt: monopoly
  • Options: corrupt, exclusive, rich, gigantic

Concept/Approach
Choose the property that defines a monopoly in market-structure terms, not a possible side effect.
Step-by-Step evaluation
1) A monopoly entails exclusive control by a single seller over a product or service.2) 'Corrupt' may or may not apply; not definitional.3) 'Rich' and 'gigantic' can describe firm outcomes/size, but are neither necessary nor sufficient.
Verification/Alternative
Economic definition: monopoly = exclusive possession/control of supply or trade in a commodity or service.
Common pitfalls
Confusing outcomes (wealth, size) or moral judgments (corruption) with the structural essence (exclusivity).
Final Answer
exclusive
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