Oligopoly flashcard sets

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# Title Terms Date
1C12-Oligopolyby lsturgis21 termsDecember 2, 2008
27.2 Monopolistic Competition and Oligopolyby mjdolenko3 termsOctober 11, 2009
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oligopoly definitions
# Definition Sets
1when a small number of companies control an industry16 sets
2a market structure in which a few large firms dominate a market14 sets
3a market structure in which only a few sellers offer similar or identical products9 sets
4when a small number of companies control an industry.7 sets
5domination of a market by only a few businesses6 sets
6a form of competition in which just a few sellers dominate the market5 sets
7the domination of a market by a few producers5 sets
8(economics) a market in which control over the supply of a commodity is in the hands of a small number of producers and each one can influence prices and affect competitors5 sets
9the control of an entire industry, such as meat packing, by a few major producers5 sets
10market form in which a market is dominated by a large number of sellers. when oligopolists in the same market collude and agree to raise prices and restrict production, a cartel forms.4 sets
11a from of competition in which just a few sellers dominate the market3 sets
12few sellers and identical or slightly differentiated products3 sets
13market dominated by a few large firms3 sets
14a market structure in which a small number of interdependent firms compete3 sets
15a market in which control over the supply of a commodity is in the hands of a small number of producers and each one can influence prices and affect competitors3 sets
16a market in which there are only a few rival sellers3 sets
17a market condition in which sellers are so few that the actions of any one of them will materially affect price and have a measurable impact on competitors2 sets
18a market structure with a small number of firms whose behavior is interdependent2 sets
19an economic situation in which a small number of companies dominate an industry2 sets
20the domination of a market by a few producers.2 sets
21n. domination of a market by only a few businesses2 sets
22a market dominated by a small number of participants who are able to collectively exert control over supply and market prices.2 sets
23market structure dominated by a small number of sellers. the word is derived from the greek for few sellers. because there are few participants in this type of market, each oligopolist is aware of the actions of the others. the decisions of one firm influence, and are influenced by the decisions of other firms.2 sets
24market structure in which a few large sellers dominate and have the ability to affect prices in the industry; form of imperfect competition2 sets
25a market structure dominated by only a few large, profitable firms2 sets
26market structure dominated by only a few large firms2 sets
27a few large sellers dominate the market2 sets
28a2 sets
29an industry composed of a limited number of large firms2 sets
30a market structure in which a few very large sellers dominate the industry.2 sets
31a market structure in which a few very large sellers dominate the industry2 sets
32the market condition that exists when there are few sellers2 sets
33* few sellers* substanstantial barriers to entry**standardized and differentiated products* non price competition(food cereal) steal price follower2 sets
34a type of market where there only are a few sellers, there is a nearly standardized product, and entry into the market is difficult2 sets
35market structure in which a few large firms dominate a market2 sets
36a form of competition in which just a few sellers dominate the market.2 sets
37few firms, standardized or differentiated product, control only when working together, significant obstacles to entry, nonprice competition, ex: steel, opec1 set
38limited competition, but more than a monopopy (not a cartel)1 set
39a market served by a few firms1 set
40only a few firms1 set