An Oligopoly Is Characterized By

question 19

Multiple Choice

An oligopoly is characterized by:

• A) a relatively small number of firms
• B) either differentiated or undifferentiated products
• C) actions of any individual firm will affect sales of other firms in the industry
• D) a and b
• E) a,b,and c

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Definitions:

Operating Activities

Activities that constitute the primary or main activities of a business, directly related to its operations and core business activities.

Net Income

The net income a company earns following the deduction of all expenses and taxes from its total revenues.

Indirect Method

A technique used in cash flow statements to reconcile net income with cash flow from operating activities, by adjusting non-cash transactions and changes in working capital.

Net Income

The total profit of a company after all expenses and taxes have been deducted from revenues.