There Are Only Three Major Recording Labels in the World-

question 4

Essay

There are only three major recording labels in the world- Sony BMG, Universal Music Group, and Warner Music Group. They are responsible for the vast majority of music recordings that are made. Harry says that these three music companies operate as an oligopoly. Maryanne says that they operate as monopolistic competition. Explain how each came to his or her conclusion. Who is correct?

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Definitions:

Cherokee

The Cherokee are a Native American people historically settled in the southeastern United States, now primarily in Oklahoma and North Carolina, known for their rich culture, language, and forced relocation events like the Trail of Tears.

Gold

A chemical element with the symbol Au, gold is a precious metal known for its use in jewelry, currency, and various industrial applications due to its conductivity and resistance to corrosion.

Worcester V. Georgia

A U.S. Supreme Court case in 1832 that held that Native American nations were distinct communities with the right to maintain lands independent of state laws.

Cherokee Nation

A large Native American tribe historically based in the southeastern United States, known for their adaptation to European American culture and the tragic Trail of Tears relocation.