Logged out
Access All our Essays in an Instant
Swap your work for FREE access, or pay £4.99 for instant access
Define and explain an Oligopoly – Characteristics of an Oligopoly An oligopoly is market form in which a market is dominated by a small number of sellers
Member rating: No Rating | Words: | Submitted: Wed Apr 05 2006
Page Preview
On the left is an image preview of every page of this document, and below are the first 150 words with formatting removed:
OLIGOPOLY A. Define and explain an Oligopoly - Characteristics of an Oligopoly B. Outline the various theories of Oligopolies, e.g. kinked demand curve etc C. Collusion/Cartels - What are the costs and benefits? D. Game theory - Is it a useful model? E. Two case studies on Oligopoly markets Define and explain an Oligopoly - Characteristics of an Oligopoly An oligopoly is market form in which a market is dominated by a small number of sellers (oligopolists). The word is derived from Greek meaning few sellers, because there are few participants in this type of market, each oligopolist is aware of the actions of the others. Oligopolistic markets are characterised by interactivity. The decisions of one firm influence, and are influenced by, the decisions of other firms. Strategic planning by oligopolists always involves taking into account the likely responses of the other market participants. An oligopy is a form of economy. As a quantative description of oligopoly,...
Get instant access
- Instant, unlimited access to our documents in full
- Swap your work for free access, or pay £4.99
- To see the full version of this document and 145,982 others
Receive email updates for this category
- Simply tell us your email address and receive a weekly Study Help Email for FREE
- Receive 3 FREE essay views with each email
- Get all the latest essays from Coursework.Info & discussion from TheStudentRoom.co.uk
