Why Are the Actions of the Firms in an Oligopoly

question 34

Essay

Why are the actions of the firms in an oligopoly interdependent?

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Definitions:

External Environment

All external factors and forces outside an organization that affect its performance and strategies.

Team

A team is a group of individuals working collaboratively towards a shared goal, often complementing each other's skills and strengths.

Informal Leader

An individual within an organization who, without official authority, exerts influence and provides direction through personal attributes and relationships.

Unique Ability

A distinct talent or skill that sets an individual apart from others, often contributing to their success or effectiveness in certain roles or activities.