https://padlet.com/kbieszk10/eu51mbjd3a85 Business Structure Project en-us 2016-11-02 16:21:27 UTC 2024-07-26 19:43:05 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Growing.png kbieszk10 https://padlet.com/kbieszk10/eu51mbjd3a85/wish/134840638 1. (n) A business structure in which the market has a few sellers that sell either identical or similar products]]> 2016-11-02 16:23:22 UTC https://padlet.com/kbieszk10/eu51mbjd3a85/wish/134840638 kbieszk10 https://padlet.com/kbieszk10/eu51mbjd3a85/wish/134841368 2016-11-02 16:25:00 UTC https://padlet.com/kbieszk10/eu51mbjd3a85/wish/134841368 kbieszk10 https://padlet.com/kbieszk10/eu51mbjd3a85/wish/134842396 2016-11-02 16:26:56 UTC https://padlet.com/kbieszk10/eu51mbjd3a85/wish/134842396 kbieszk10 https://padlet.com/kbieszk10/eu51mbjd3a85/wish/134842587 2016-11-02 16:27:21 UTC https://padlet.com/kbieszk10/eu51mbjd3a85/wish/134842587 kbieszk10 https://padlet.com/kbieszk10/eu51mbjd3a85/wish/134955861 Coca-Cola is an oligopoly because Coca-Cola and Pepsi are the only major producers of soft drinks. The market is like this because there are many barriers to enter the market and Pepsi and Coca-Cola sell almost identical products.]]> 2016-11-02 23:46:54 UTC https://padlet.com/kbieszk10/eu51mbjd3a85/wish/134955861 kbieszk10 https://padlet.com/kbieszk10/eu51mbjd3a85/wish/134956641 1. Since there is such little competition companies are able to acquire large profits
2. Usually products sold in an Oligopoly are high in demand (OPEC produces petroleum it's in high demand)
3.  For consumers Oligopolies have the advantage of constant lowering of prices because if one company lowers their price competing companies will do the same ]]> 2016-11-02 23:55:34 UTC https://padlet.com/kbieszk10/eu51mbjd3a85/wish/134956641 kbieszk10 https://padlet.com/kbieszk10/eu51mbjd3a85/wish/134957159 1. Companies don't devote time to making their product better because they already have a dominant market share  (fixing their prices rather than the product itself)
2.  Consumers may be forced into buying products that don't satisfy their needs because of the lack of choices presented
3. Oligopolies allow companies to collude and form cartels which makes it nearly impossible for other companies to enter the market

]]> 2016-11-03 00:01:10 UTC https://padlet.com/kbieszk10/eu51mbjd3a85/wish/134957159 kbieszk10 https://padlet.com/kbieszk10/eu51mbjd3a85/wish/134957937 https://www.youtube.com/watch?v=PCcVODWm-oY

In the video they talk about how Oligopolies produce products that are most likely around you such as a laptop (Hp, Dell, Apple) or a cellphone (Apple, LG, Samsung). They also discuss how companies will advertise their products. Oligopolies are similar to monopolistic competitions but with only a few producers.]]> 2016-11-03 00:10:54 UTC https://padlet.com/kbieszk10/eu51mbjd3a85/wish/134957937 kbieszk10 https://padlet.com/kbieszk10/eu51mbjd3a85/wish/134958738 2016-11-03 00:20:41 UTC https://padlet.com/kbieszk10/eu51mbjd3a85/wish/134958738 kbieszk10 https://padlet.com/kbieszk10/eu51mbjd3a85/wish/134958811 2016-11-03 00:21:34 UTC https://padlet.com/kbieszk10/eu51mbjd3a85/wish/134958811