BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Duopoly
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Oligopoly
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Monopoly
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Monopolistic Competition
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Detailed explanation-1: -Oligopoly markets are markets dominated by a small number of suppliers. They can be found in all countries and across a broad range of sectors. Some oligopoly markets are competitive, while others are significantly less so, or can at least appear that way.
Detailed explanation-2: -An oligopoly is a market structure with a small number of firms, none of which can keep the others from having significant influence.
Detailed explanation-3: -Oligopoly, in which a market is by a small number of firms that together control the majority of the market share. Duopoly, a special case of an oligopoly with two firms. Monopsony, when there is only one buyer in a market.
Detailed explanation-4: -Rather, they are oligopolies. Oligopoly arises when a small number of large firms have all or most of the sales in an industry.
Detailed explanation-5: -Oligopoly = A market structure characterized by barriers to entry and a few firms.