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Author Question: What is oligopoly? How does oligopoly differ from the other kinds of market structure? What will ... (Read 142 times)

nummyann

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on: Jun 29, 2018
What is oligopoly? How does oligopoly differ from the other kinds of market structure?
 
  What will be an ideal response?

Question 2

Explain why ensuring economic stability is an economics function of government?
 
  What will be an ideal response?


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cassie_ragen

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Reply #1 on: Jun 29, 2018
Answer to Question 1

Oligopoly is an industry characterized by a small number of firms. The firms are interdependent, and they recognize that they are interdependent. This leads to strategic dependence, which means that firms must recognize that their actions will affect the other firms, and they must take into account the actions of the other firms.

Answer to Question 2

Our economy sometimes faces the problems of high unemployment and rising prices. Perhaps most importantly, the federal government attempts to guide the overall pace of economic activity, attempting to maintain steady growth, high levels of employment, and price stability. By adjusting spending and tax rates (fiscal policy) or managing the money supply and controlling the use of credit (monetary policy), it can slow down or speed up the economy's rate of growthin the process, affecting the level of prices and employment.


nummyann

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Reply 2 on: Jun 29, 2018
Wow, this really help

samiel-sayed

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Reply 3 on: Yesterday
:D TYSM

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