Examlex
Which of the following sectors has the LOWEST union membership?
Oligopoly
A market structure characterized by a small number of firms that dominate the market, leading to limited competition.
Number of Firms
Refers to the total count of business entities operating in a given market or industry.
Market Characteristics
Features or attributes that define and differentiate specific markets, including structure, competition level, and consumer behaviors.
Duopolists
Two firms that dominate a particular market, often engaging in strategic interaction that impacts pricing, production, and market share.
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