Differentiate Between a Monopoly and an Oligopoly in the Private

question 114

Essay

Differentiate between a monopoly and an oligopoly in the private enterprise system.

---

Definitions:

Energy Information Administration

A U.S. Government agency that provides official energy statistics and analysis.

GDP Per Capita

A measure of a country's economic output that accounts for its number of people, essentially dividing the GDP by the population, to indicate the average economic output per person.

Energy Efficiency

The ratio of useful output of services to the input of energy; it is aimed at reducing energy consumption and environmental impact.

Energy-Use-To-GDP Ratio

A metric that compares a country's total energy consumption to its gross domestic product, indicating the energy efficiency of its economy.