Which of the Following Is an Example of an Oligopoly

question 64

Multiple Choice

Which of the following is an example of an oligopoly?

• A)Oil producers restrict global oil supply in order to prop up the price of oil.
• B)The automobile industry in the 1970s was dominated by four or five large firms.
• C)Taiwan spurs exports to developed countries by subsidizing certain popular industries.
• D)Mexico attempts to become self-sufficient by erecting trade barriers and developing domestic industry.
• E)Cotton farmers receive large amounts of subsidies from the U.S.government.

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Definitions:

Socially Constructed Attributes

Traits, identities, and social roles that are perceived and understood through the collective agreement of society rather than stemming from inherent or natural qualities.

Stigmatized

Describes individuals, groups, behaviors, or conditions that are disapproved of or discriminated against based on societal norms and prejudices.

Level Of Education

Refers to the highest degree of formal education or training that an individual has completed, commonly measured in grades, diplomas, or degrees.

Ecological Fallacy

Drawing conclusions about individual attributes from data gathered from an entire group.