Economic structure and The Possible Future Actions of OPECA monopoly is an economic depot that describes a market ( crossroad or service ) that is owned by one seller and has m some(prenominal) buyers . In contrast an oligopoly is a market that is owned by a few sellers and any action of these sellers would result in the market price move while also affecting the price of the competitors a comfortably . A cartel plenty occur in an oligopolistic parsimoniousness . It is a formal agreement among independent organizations that creates control all over both the production and br distribution of a product or service thus limiting the competitionAn example of a current day monopoly is DeBeers , the diamond mogul which controls the majority of the humanity s diamond markets . There be many examples of oligopolies today . gibe to Lori Alden automobile , tire , cigarette , airline , and steel industries are examples of oligopolies (2007 .
Oligopolies make it difficult for others to compete due to their large factories and bud labours , as well as their patented products and their control over piercing materials (2007According to Benjamin Zycher (2008 , OPEC ass be considered a cartel OPEC can be classified as a cartel because it is comprised of a group of producers that attempt to restrict output in to bring forward prices above the competitive level (p .1The government support of monopolies can cause price fixing in essential industries such as the agricultural industry . Other examples of government-supported monopolies include the grievous bodily harm ownership of cable television operating systems...If you want to get a full essay, order it on our website:
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