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Marketıng Management
MARKETING MANAGEMENT (PAZARLAMA YÖNETİMİ) - (İNGİLİZCE) Dersi Strategic Management, Competition, and Marketing soru cevapları
MARKETING MANAGEMENT (PAZARLAMA YÖNETİMİ) - (İNGİLİZCE) Dersi Strategic Management, Competition, and Marketing soru detayı:
SORU:
How can one explain `monopoly` and `oligopoly`?
CEVAP: Monopoly means one company dominates the market and controls market prices. In a free-market economy (in which companies are free to decide what and how to produce, and whom to sell at what prices), monopoly means no competition, thus is often prohibited by law despite some exceptions such as diamond and pharmaceuticals.
Oligopoly creates a situation in which customers have some choices (in contrast to monopoly) such as airline or steel industry, but they do not have several choices as in monopolistic competition.
Monopoly means one company dominates the market and controls market prices. In a free-market economy (in which companies are free to decide what and how to produce, and whom to sell at what prices), monopoly means no competition, thus is often prohibited by law despite some exceptions such as diamond and pharmaceuticals.
Oligopoly creates a situation in which customers have some choices (in contrast to monopoly) such as airline or steel industry, but they do not have several choices as in monopolistic competition.