BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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economies of scale
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consolidation
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merger
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acquisition
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Detailed explanation-1: -Industrial concentration” refers to a structural characteristic of the business sector. It is the degree to which production in an industry-or in the economy as a whole-is dominated by a few large firms.
Detailed explanation-2: -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-3: -An oligopoly refers to a market structure that consists of a small number of firms, who together have substantial influence over a certain industry or market.
Detailed explanation-4: -A monopoly is when one company and its product dominate an entire industry whereby there is little to no competition and consumers must purchase that specific good or service from the one company.
Detailed explanation-5: -A duopoly exists when two companies dominate a market for a given product or service. A duopoly can have the same impact on the market as a monopoly if the two players collude on prices or output.