Examlex
Facts are supported by evidence.
Total Sales
The total revenue generated from the sale of goods or services over a set period before any expenses are subtracted.
Four-Firm Concentration Ratio
An economic metric that assesses the market power of the four largest firms in an industry, expressed as a percentage of total market sales.
Pure Competition
A market structure characterized by a large number of small firms selling identical products, with no single seller having a significant influence on market price.
Oligopoly
A market structure characterized by a small number of large firms dominating the market, leading to limited competition.
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