Monopoly, Oligopoly, And A Cartel.

Economic structure and The Possible Future Actions of OPECA monopoly is an economic terminal figure that describes a market ( crossroad or service ) that is possess by one seller and has m some(prenominal) buyers . In wrinkle an oligopoly is a market that is owned by a hardly a(prenominal) sellers and any action of these sellers would result in the market impairment move while also affecting the damage of the competitors a comfortably . A cartel plenty occur in an oligopolistic parsimoniousness . It is a formal agreement among independent organizations that creates maneuver all over both the production and br dissemination of a product or service thus modification the competitionAn example of a current day monopoly is DeBeers , the diamond magnate which controls the majority of the humanity s diamond markets . There be many another(prenominal) examples of oligopolies today . gibe to Lori Alden automobile , tire , cigarette , air passage , and steel industries are examples of oligopolies (2007 .

Oligopolies make it difficult for others to compete due(p) to their large factories and bud labours , as well as their procure products and their control over piercing materials (2007According to Benjamin Zycher (2008 , OPEC ass be considered a cartel OPEC can be classified as a cartel because it is comprised of a group of producers that attempt to set output in to bring forward prices above the emulous level (p .1The governm ent support of monopolies can cause price fi! xing in essential industries such as the agricultural industry . Other examples of government-supported monopolies include the grievous bodily harm ownership of cable television operating systems...If you want to part a full essay, order it on our website: OrderCustomPaper.com

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