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HEDGE: A method of protecting against financial (or other types) of loss by counterbalancing an action. This is commonly seen in the financial markets when investors buy options or futures contracts to protect themselves against price changes. A hedge is essentially a form of insurance. An investor hopes the price of a financial asset doesn't fall, but buying a futures or options contract can reduce the loss if this occurs.
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Lesson 20: Oligopoly | Unit 1: Intro
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Page: 5 of 24
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In this unit, you should have learned about:- Oligopoly as a market structure characterized by a large number of relatively small firms, each of which possesses significant market control.
- That oligopoly markets are noted for practising competition among the few, having significant entry barriers, and are inefficient enough to prompt government intervention.
- That oligopoly lies close to monopoly on the market structure spectrum, but that there is no clear-cut dividing line between oligopoly and monopolistic competition.
- A few of the real world oligopoly markets, including automobile, computers, petroleum, tires, banking, long distance, television, and airlines.
- Two key structural characteristics of oligopoly -- concentration and entry barriers.
- Six key behavioral characteristics of oligopoly -- interdependence, price rigidity, nonprice competition, price leadership, collusion, mergers.
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OLIGOPOLY, REALISM Real world markets are heavily populated by oligopoly. About half of all output produced in the U.S. economy each year is done so by oligopoly firms. Other industrialized nations can make a similar claim. Oligopoly markets arise in a wide assortment different industries, ranging from manufacturing to retail trade to resource extraction to financial services.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store wanting to buy either a remote controlled sports car with an air spoiler or semi-gloss photo paper that works with your neighbor's printer. Be on the lookout for malfunctioning pocket calculators.
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North Carolina supplied all the domestic gold coined for currency by the U.S. Mint in Philadelphia until 1828.
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"Concentrate all your thoughts upon the work at hand. The sun's rays do not burn until brought to a focus." -- Alexander Graham Bell, inventor
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ABE
Association of Business Executives
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