ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Automobile manufacturing is another example of an oligopoly, with the leading auto manufacturers in the United States being Ford (F), GM, and Stellantis (the new iteration of Chrysler through mergers).

Detailed explanation-2: -Introduction. The US automobile industry is a good example of an oligopoly. It consists mainly of three major firms, General Motors (GM), Ford, and Chrysler. The influence of this oligopoly can be seen in the prices and the development and introduction of new car models into the American car market.

Detailed explanation-3: -Oligopoly Example #3 – Automobile Industry The automotive sector in the United States shows a unique example of oligopoly. The trinity of Ford, Chrysler, and GM has come into the limelight because of technological excellence. They have offered stiff challenges and competition to the major players worldwide.

Detailed explanation-4: -A simple example of monopolistic competition can be seen in car sales. Cars are all designed for the same purpose, which is to provide transport for people and goods. However, there are many different types of cars on the market. Consumers can choose between different body types, price points, colors, and so forth.