1
Q
What is an oligopoly
A
a market with a small number of dominant firms
2
Q
What are some examples of oligopoly markets
A
- mobile phone networks
- confectionary markets
3
Q
What is a pure oligopoly
A
a markets with a small number of large firms which control the entire market
4
Q
What is a realistic oligopoly
A
several large firms dominating a market
5
Q
What is a duopoly
A
Two firms that dominate and control the market
6
Q
A
micro economics
flashcards
Decks in class (26)
# Cards
-
theme 115
-
theme 1 part 233
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DEMAND15
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SUPPLY49
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1 10.1012
-
consumer and producer surplus13
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market equilibrium8
-
economic systems21
-
the specialisation and division of labour23
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price mechanism7
-
Key economic thinkers7
-
Price Elasticity of Demand28
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Price elasticity of supply34
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Functions of money7
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income elasticity of demand9
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Cross Elasticity of Demand8
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Maximum wages3
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Labour supply14
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Labour Market63
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Marginal, average ands short run costs22
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Revenue And Profit19
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Monopolistic Competition9
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Oligopoly6
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Game theory12
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Monopoly19
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Theme 3 - difficult areas19
