A Market That Has One Or Few Sellers And Many Buyers Is Said To Be 'biased' In What Way?

A market that has one or few sellers and copious buyers is said to be ‘biased’ in what way?


Answer:
Well in business lingo the situation that you are describing is called a monopoly. A monopoly is when thee are only a few sellers but a immense amount of buyers. Monopolies manipulate price and demand around them. Furthermore they also restrict the entry of new firms into the industry by using an assortment of methods. As they are monopoly they reap abnormal profits. Also they can set various prices that are unfair. They can get this out because they are monopolies. So this is the reason why they are termed as being biased. Hope this answers the interview.

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