The correct answer is B) one company controls all the means of production of a product.
The statement that best describes a monopoly is "one company controls all the means of production of a product."
In a monopoly, one company dominates and controls all the means of production and eliminate most of its competitors. This company has become too large that dominates above other minor competitors. That was the case of the Standard Oil company of John D. Rockefeller or the Steel Company of Andrew Carnegie.
