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Why might only a few firms dominate an oligopolistic industry?
International Trade
The exchange of goods, services, and capital between countries and territories, influencing global economic activity.
Adverse Selection
A situation where sellers have information that buyers do not, or vice versa, leading to transactions that benefit the more informed party.
Death Spiral
A term often used in insurance and pricing strategies to describe a situation where pricing adjustments lead to reduced participation or purchase, necessitating further price increases, and thus accelerating a decline in demand or viability.
Health Insurance
A type of insurance coverage that pays for medical and surgical expenses incurred by the insured as a part of a health care system.
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