In marketing, the form of competition that occurs when only one firm sells the product is referred to as

The answer is Monopoly, which happens when only one firm sells the product in which typically marketing plays a small role in a monopolistic setting because it is controlled by the state or federal government. In addition, in a monopoly market, the seller faces no competition as he/she is the sole trader of goods with no close additional and the aspects like government certificate, ownership of assets, exclusive rights and patent and high starting cost make a unit a single seller of goods. All these aspects limit the entry of other traders in the market that also own some information that is not recognized by other sellers.