Introduction:
The market for hand tools, such as hammers and screwdrivers, is dominated by Draper, Stanley, and Craftsman. In order to determine the best description for this market, we need to evaluate the characteristics of the market structure.

Oligopoly:
The correct answer is option 'C' - an oligopoly. An oligopoly is a market structure in which a few large firms dominate the market. Key characteristics of an oligopoly include:

1. Few large firms: In this case, Draper, Stanley, and Craftsman are the dominant players in the market. These firms have a significant market share and exert a considerable amount of influence over pricing and product offerings.

2. Interdependence: Due to the limited number of firms in the market, the actions of one firm can directly impact the others. For example, if one firm decides to lower prices, the others may follow suit to remain competitive. This interdependence leads to strategic decision-making and potential collusion among the firms.

3. Barriers to entry: Oligopolies often have high barriers to entry, making it difficult for new firms to enter the market and compete with the existing dominant players. In the case of the hand tool market, these barriers could include brand recognition, economies of scale, and established distribution networks.

4. Product differentiation: Oligopolistic firms often engage in product differentiation to gain a competitive edge. They may offer unique features, quality, or branding to differentiate themselves from their competitors. For example, Draper, Stanley, and Craftsman may have different product lines, warranties, or pricing strategies to attract customers.

5. Non-price competition: Due to the interdependence and product differentiation, competition in an oligopoly is not solely based on price. The firms may compete through advertising, product innovation, customer service, or other non-price factors to attract customers and maintain their market share.

Conclusion:
Based on the dominance of Draper, Stanley, and Craftsman in the hand tool market, as well as the characteristics of an oligopoly such as few large firms, interdependence, barriers to entry, product differentiation, and non-price competition, it is evident that the market for hand tools is best described as an oligopoly.