Josiah owns and operates the only pet supply store in his town. There are no other places to buy pet food for over 200 miles and internet service is not always reliable in this small community. This means that Josiah’s one company completely controls the sale of pet products in his area, essentially giving him a what?
Josiah's situation of being the only pet supply store in his town, with no other options nearby and unreliable internet service, gives him a monopoly in the sale of pet products in his area.
The correct term to describe Josiah's situation is a "monopoly." A monopoly occurs when a single company has exclusive control over the supply of a particular product or service in a specific area or market. In this case, since Josiah owns and operates the only pet supply store in the town, he has complete control over the sale of pet products in his area, as there are no other options available nearby. This gives him a monopoly, allowing him to dictate the prices and terms of sale without competition.
