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What Is an Oligopoly? Give Two Examples of Oligopolistic Industries

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Essay

What is an oligopoly? Give two examples of oligopolistic industries in Australia.
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Definitions:

Smart-Home Devices

Electronic devices that can be controlled remotely providing convenience, such as lighting, thermostats, and security systems.

Temperature

A physical quantity expressing hot and cold, measured with a thermometer and quantitatively determined by the average kinetic energy of the molecules.

Health And Wellness

An approach to healthcare that emphasizes preventing illness and prolonging life, as opposed to treating diseases.

Social Trend

A general direction in which society’s behavioral patterns, attitudes, and preferences evolve over time.

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