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-Falklands Island and the Falklands War
Market Structures
The organizational and competitive characteristics of markets, including aspects like the number of sellers and degree of product differentiation.
Demand Curve
A graphical representation of the relationship between the price of a good and the quantity demanded, typically downward sloping, showing an inverse relationship between price and quantity demanded.
Concentration Ratio
A measure used in economics to assess the extent of market control by the top firms in an industry.
Oligopolies
A market structure characterized by a small number of large firms that dominate the market, often leading to limited competition and higher prices.
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