Describe Oligopoly in Terms of the Number of Competitors, Ease

question 146

Essay

Describe oligopoly in terms of the number of competitors, ease of entry into the market, similarity of goods/services offered by competing firms, and level of control over price by individual firms. Give an example of a market or industry that is an oligopoly.

---

Definitions:

Credit Reporting Legislation

Laws regulating the collection, access, and use of credit information about individuals.

Consumer Credit Report

A detailed document that contains an individual's credit history, including loans, repayments, and late payments, used by lenders to evaluate creditworthiness.

Debtor's Permission

The consent required from a debtor before certain actions, such as the sale or use of collateral, can be taken by creditors.

Itinerant Sellers

Sellers of goods who sell goods at the buyer’s residence.