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Ideological differences between the two major parties have decreased over the last 60 years.
Imperfect Competition
Imperfect competition describes a market structure where the conditions for perfect competition are not met, due to factors like monopolies and product differentiation.
Monopolistic Competition
A market structure in which many companies sell products that are similar but not identical, allowing for competition based on price, quality, and innovation.
Oligopoly
A market structure characterized by a small number of firms dominating the market, leading to limited competition.
Monopolistic Competition
A market structure characterized by many firms selling products that are similar but not identical, allowing for significant differentiation and competition on factors other than price.
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