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When a industry or business has no competition?
A monopoly is an industry or business having no competition.
Is the car industry considered an oligopoly?
Yes, the car industry is considered an oligopoly because a small number of large companies dominate the market and have significant control over pricing and competition.
What impact does the presence of oligopoly in the car industry have on competition and consumer choice?
The presence of oligopoly in the car industry can limit competition and consumer choice. Oligopoly occurs when a few large companies dominate the market, leading to less variety and innovation in products. This can result in higher prices for consumers and less incentive for companies to improve their products or offer better deals. Overall, oligopoly in the car industry can restrict options for consumers and stifle competition.
What is an effect of increasing global economic competition on the west?
The growth of the service industry has been one of the results in the West of increased global economic competition. A car mechanic and a waitress are two examples of service industry jobs.
Allowing competition in the power industry?
Baseload plants allow competition in the power industry.
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.
How did economic goals for countries change as nationalist sentiments grew?
Competition for land, trade, and industry increased
What is a competition brief in the media industry?
no
What is the average distance used in CO2 car competition?
What is the distance used in a CO2 car competition What is the distance used in a CO2 car competition
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 are the negatives about the fashion industry?
It's a tough industry because of it's competition and demand.
What are the examples of pure competition?
The textile industry is probably the closest example to pure competition on Earth.
