There Are Only Five Major Recording Labels in the World-Bertelsmann

question 88

Essay

There are only five major recording labels in the world-Bertelsmann AG's BMG Entertainment, EMI Recorded Music, Sony Music Entertainment, Time-Warner's Warner Music Group, and Seagram's Universal Music Group.They are responsible for the majority of music recordings that are made.Harry says that the five music companies operate in an oligopoly.Maryanne says that the five companies operate in monopolistic competition.Explain how each came to his or her conclusion.Who is correct?

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Definitions:

Attributes

Qualities, features, or characteristics that are inherent in or ascribed to something or someone.

Attributes

Qualities, characteristics, or features that are regarded as inherent parts of someone or something.

Rules

Guidelines or principles governing behavior or procedural conduct.

Behavior-Reinforcement Belief Expectancy

A concept in psychology that suggests an individual's belief in the likelihood of receiving reinforcement for a behavior influences the expectancy and motivation to perform that behavior.