In a concentrated retail system, most of the market is supplied by:

• A. Few retailers
• B. Many retailers
• C. Individual consumers
• D. Government agencies

Answer: (A)

Verified step by step guidance

1. Understand the concept of a concentrated retail system: it refers to a market structure where a small number of retailers dominate the supply of goods or services.
2. Recall that in such systems, the market power is held by a few large retailers rather than many small ones.
3. Recognize that 'few retailers' means a limited number of firms control most of the market share, leading to less competition among retailers.
4. Contrast this with a fragmented retail system, where many retailers compete and no single firm has significant market power.
5. Conclude that in a concentrated retail system, the majority of the market is supplied by a few retailers.