General Motors Operates Several Divisions in Supplying Cars, Trucks, Vans

Multiple Choice

General Motors operates several divisions in supplying cars, trucks, vans, and SUVs to its customers. Each division engages the usual business participants, overlaps management functions with other divisions, and works in basically the same functional areas as all of the others. Chevrolet, Cadillac, and GMC trucks are among the company’s product lines. Its few major competitors include Ford, DaimlerChrysler, Nissan, Honda, and Toyota. Each automaker sells a large portion of all the products sold in the marketplace, and each differentiates its product lines.
-The industry conditions illustrated in this scenario are best characterized as _____.

A) perfect competition
B) oligopoly
C) monopolistic
D) monopoly