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* Advantages
-All provide similar products; therefore there are various options to choose from. Ex; ABC,FOX, and CNN.
-Market prices are stable (always know what to expect when buying the product)
- Cartels don't last long because there is too much incentive to cheat Ex: OPEC
*Disadvantages
-Sellers can collude (work together). Ex: Airlines can get together and all set their prices the same to maximize profits)
- Act as a cartel Ex: OPEC has monopoly power
- Cartels (which limit competition) can lead to higher prices and reduced output

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By: Edna Dawit and Gracie Ritter

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-The market has FEW sellers
-Oligopolies either sell identical/similar products
- Very hard to enter or exit the market of Oligopolies.

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Identical Products

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Hard to enter
(Very many barriers)

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A catchy tone to help you understand Oligopoly markets! They go other the characteristics of oligopolies. They are also price setters. The video lists examples of oligopolies.

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This is our project for our Microeconomics class under Mr. James Daigdigan. We adapted the song Gangnam Style by PSY. All videos were taken by our group mate.

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There are very few sellers in Broadcast Television. Below those are the main broadcasters. Those networks all provide the same features; such as, news, sitcoms, and late night television. To start up company and try to rank beside them is near impossible. Entering this market is tough.