CIPS L3M1 Exam - Topic 1 Question 47 Discussion

Actual exam question for CIPS's L3M1 exam

Question #: 47
Topic #: 1

[All L3M1 Questions]

A market situation where there is only one buyer in the marketplace is called:

APerfect competition

BOligopoly

CMonopoly

DMonopsony

Show Suggested Answer

Suggested Answer: D

A market with only one buyer is called a 'monopsony'.

There may be other QUESTION NO :s in this test about the other terms shown, so I shall hold back on expla-nation(s) here.

by Shonda at Apr 07, 2026, 04:47 PM

Limited Time Offer

25%

Off

Contribute your Thoughts:

Submit Cancel

2 days ago

I remember practicing a question like this! Monopsony is when there’s one buyer, right?

upvoted 0 times

...

7 days ago

I think this is about market structures, but I’m not sure if it’s monopoly or monopsony.

upvoted 0 times

...