CIPS L3M1 Exam - Topic 3 Question 11 Discussion

Actual exam question for CIPS's L3M1 exam

Question #: 11
Topic #: 3

[All L3M1 Questions]

A market situation where there is only one supplier is called:

AOligopoly

BImperfect competition

CMonopsony

DMonopoly

Show Suggested Answer

Suggested Answer: D

The correct answer is, of course, 'monopoly'.

by Lajuana at May 22, 2024, 08:16 PM

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Bernardo

9 months ago

Surprised that people mix this up so often!

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Deja

9 months ago

I thought there could be more than one supplier in a monopoly?

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Darell

10 months ago

Wait, isn't it also called imperfect competition sometimes?

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Matthew

10 months ago

Agreed, monopoly is the right term here.

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Kami

10 months ago

It's definitely called a monopoly!

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Susana

10 months ago

I thought monopsony was about buyers, not suppliers, but I'm confused about the other terms too.

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Terrilyn

11 months ago

I feel like I've seen a question like this before, and monopoly was definitely the term used for a single supplier.

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Leatha

11 months ago

I'm not entirely sure, but I remember something about oligopoly having a few suppliers, so that can't be it.

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Ashleigh

11 months ago

I think it's monopoly since that's when there's just one supplier, right?

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I'm not totally confident, but I think the key distinction is that a monopoly refers to a single seller, while a monopsony refers to a single buyer. So in this case, the question is asking about the supplier side, so D for monopoly seems like the best choice.

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Yong

11 months ago

Okay, I've got this. A monopoly is when there is only one supplier in the market, so that has to be the right answer here. D is the way to go.

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Suzan

11 months ago

Hmm, I'm a little unsure about the difference between monopoly and monopsony. I'll need to review those concepts quickly before selecting an answer.

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Trina

11 months ago

This looks like a straightforward market structure question. I'll think through the key characteristics of each option to determine the correct answer.

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Cherry

11 months ago

Yep, I agree with Launa. Monopoly is the right answer here. I'm feeling good about selecting D.

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Stephane

11 months ago

Hmm, I'm a bit unsure about the difference between pinning a report page vs. a KPI visual vs. a card visual. I'll need to review the details of each option carefully.

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Dion

11 months ago

I'm a bit confused by the 802.1ad requirements here. Let me re-read the question and think through the options carefully before selecting an answer.

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An

11 months ago

I'm a little confused by the wording of this question. The options seem pretty technical, and I'm not sure I fully understand the differences between them. I might have to make an educated guess on this one.

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Stefanie

11 months ago

Okay, I've got this! The reduced administrative effort and access to the latest features are definitely two big advantages of PaaS databases. I'll make sure to explain those clearly in my answer.

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