Document Summary

This is an industry where there is a single company that operates in an industry that produces a unique product. The trends in publicly released information regarding monopolies can be used by competitors to put an end to the monopoly. Some countries shifted away from monopolies to oligopolies where with a few competitors in the industry this sparks competition which drives innovation and gives consumer more variety. This is when there a few competitors that exist in the market. These oligopolies compete with each other in terms of price, features of the product, advertising and sales promotion. The animal spirits is a term that refers to the desire to constantly improve products to satisfy customers and lower the cost of producing. Oligopolies eolve in industries that demand a large investment in capital assets such as equipment, and technology/distribution because these requirements encourage companies to merge or purchase each other.

Get access

Grade+20% off
$8 USD/m$10 USD/m
Billed $96 USD annually
Grade+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
40 Verified Answers
Class+
$8 USD/m
Billed $96 USD annually
Class+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
30 Verified Answers

Related Documents

Related Questions