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What is a oligopolistic industry?
An oligopolistic industry is characterized by a market structure where a small number of firms dominate the market, leading to limited competition. These firms have significant market power, allowing them to influence prices and output levels. Due to their interdependence, the actions of one firm can directly impact the others, often resulting in strategic behavior such as collusion or price wars. Common examples include the automotive, telecommunications, and airline industries.
What factors should I consider when buying a small business?
You should consider the profitability and outlook of the small business, especially the industry in which it competes and the competition in your industry.
What merger is the combination of firms in the same industry?
A merger involving the combination of firms in the same industry is known as a horizontal merger. This type of merger occurs when companies that operate at the same level in the supply chain and offer similar products or services join forces, often to increase market share, reduce competition, or achieve economies of scale. Horizontal mergers can lead to enhanced efficiencies and greater bargaining power in the market.
What is the term for a business that has eliminated most of its competition?
The term for a business that has eliminated most of its competition is a "monopoly." In a monopoly, a single company or entity dominates the market for a particular product or service, allowing it to control prices and supply. This often leads to reduced consumer choice and can raise concerns about fair competition in the market. Monopolies may arise through various means, including mergers, acquisitions, or anti-competitive practices.
Types of Market Competition?
Perfect Competition, Monopoly, Monopolistic Competition or Oligopoly
A decrease in competition within an industry often results in what?
A decrease in competition within an industry often results in one company holding a significant amount of economic power. For example, Comcast lacks competition and can therefore charge a lot for their service.
When a industry or business has no competition?
A monopoly is an industry or business having no competition.
How did economic goals for countries change as nationalist sentiments grew?
Competition for land, trade, and industry increased
What impact does the car industry oligopoly have on competition and consumer choice in the market?
The car industry oligopoly limits competition by allowing a few large companies to control the market, which can lead to higher prices and less variety for consumers. This can restrict consumer choice and make it harder for smaller companies to enter the market.
What is an example of a competitive industry and why is it competitive?
The smartphone production industry is one of the most highly competitive industries in the US at this time. The main competitors include Apple (iPhone), Research in Motion (Blackberry), and Palm (Treo), along with other competitors as well. The definitive explanation of the level of competition in an industry has been presented by Michael Porter. The amount of competition in an industry can be determined and described according to the the following: 1)barriers to entry into the industry, 2) available substitutes for the products produced by the industry rivals, 3) the power of the industry rivals over their customers, and 4) the power of the industry rivals' suppliers over the industry rivals.
What has the author Pekka Ilmakunnas written?
Pekka Ilmakunnas has written: 'Identification and estimation of the degree of oligopoly power in an industry facing domestic and import competition' -- subject(s): Competition, Mathematical models, Oligopolies
Competition in the car industry?
Oligopolic!
What is a competition brief in the media industry?
no
What happens if competition decreases in a certain industry?
Competition helps to keep the quality high and prices down. If competition decreases, the quality can go down and the prices can go up in that industry.
What is it called when a single company is strong enough is strong enough to control an entire industry?
When a single company is strong enough to control an entire industry, it is referred to as a monopoly. In a monopoly, the company has significant market power, allowing it to dictate prices, control supply, and often limit competition. This can lead to a lack of choices for consumers and potential negative impacts on innovation and market dynamics.
How are the porters five forces used in the retail industry?
Porter's 5 Forces of Competition apply to any Competitive Business/Industry, including but not limited to the retail industry. - Threat of a New Competitor - Threat of a substitute (rival) product/service - Buying Power (bargaining power of buyers) - Supplier Reliance (supplier bargaining power) - Intensity of Rivalry - they say competition brings out the best in us. For a detailed explanation of Porter's 5 Forces and free Templates to use for analysis check out the site BusinessBalls.
What are the negatives about the fashion industry?
It's a tough industry because of it's competition and demand.
