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Market Structure of Oligopoly - 1755 Words

Analyse The Structure Of The Market Structure Of Oligopoly And The Difficulty In Predicting Output And Profits Market structure of oligopoly Oligopoly is a market structure where there are a few firms producing all or most of the market supply of a particular good or service and whose decisions about the industrys output can affect competitors. Examples of oligopolistic structures are supermarket, banking industry and pharmaceutical industry. The characteristics of the oligopoly are: • Small number of large firms dominate the industry • High degree of interdependence: the behaviour of firms are affected by what they believe other rivalry firms might do • High barriers to entry that restrict new firms to enter the industry e.g.†¦show more content†¦Like monopoly, if the oligopoly is maintained in the long run, it charges a high price, produces less output and fails to maximise social welfare relative to perfect competition. Cartel is seen by the government as a means of driving up prices and profits which is against the public interest. As a result it is illegal to operate the cartel in many countries. Tacit collusion Tacit Collusion is collusion that is not organized through a formal, open contract between colluding parties. Tacit collusion is when firms abide to the price that has been set by a recognized leader. The leader is usually the largest firm i.e. the firm that controls the industry known as dominant firm price leadership. On the other hand, the leader may be the firm that is most reliable to follow, known as barometric firm price leader. Dominant firm price leadership This is when smaller firm chooses the same price as the price set by the large firms in the industry. Source: www.bized.ac.uk/educators/he/pearson/lectures The leader tends to maximise profits where marginal revenue is equal to marginal the marginal cost, then produces at QL and sell goods at PL on its demand curve where marginal cost equal marginal revenue. At this stage other firms in the industry will follow the price. Therefore, the market produces at Qt, with other firms producing the output not supplied by the leader i.e. Qt-Ql. Barometric firm price leadership. WhereShow MoreRelatedOligopoly Market Structure2723 Words   |  11 PagesRunning Head: Marketing Structures Toyota as an example of an oligopoly market structure Name: Institution: Instructor’s Name: Course code: Course Title: Contents Contents 2 Toyota as an example of an oligopoly market structure 3 1.0 INTRODUCTION 3 1.1 Terminologies of market structures 3 1.11 Perfect competition 4 1.12 Monopoly 4 1.13 Monopolistic competition 4 1.14 Oligopoly 4 2.0 THE TOYOTA COMPANY 5 2.1 Characteristics of an Oligopoly 6 2.2 Toyota Motor Company’sRead MoreOligopoly Market Structure2237 Words   |  9 PagesOligopoly Oligopoly is a market structure in which the number of sellers is small. Oligopoly requires strategic thinking, unlike perfect competition, monopoly, and monopolistic competition. †¢ Under perfect competition, monopoly, and monopolistic competition, a seller faces a well defined demand curve for its output, and should choose the quantity where MR=MC. The seller does not worry about how other sellers will react, because either the seller is negligibly small, or already a monopoly. Under oligopolyRead MoreMonopolistic and Oligopoly Market Structures2166 Words   |  9 PagesIntroduction – Market structures and cases under study Definition - The interconnected characteristics of a market, such as the number and relative strength of buyers and sellers and degree of collusion among them, level and forms of competition, extent of product differentiation, and ease of entry into and exit from the market. Market structures under study are ones which are more pronounced than others in the real world i.e. ‘Monopolistic competition’ and ‘Oligopoly’. Very few markets in realRead MoreEconomic Analysis of an Oligopoly Market Structure1715 Words   |  7 Pages1. Introduction 1a. Article Summary In this article Michael Baker discusses the livelihood of small retailers in a market subjugated by the financially dominant oligopolies, Woolworths and Coles. While the small independent retailers in direct competition with Woolworths and Coles provide some competitive respite for consumers, as they encourage competitive pricing, albeit predatory pricing, it is clear that Woolworths and Coles control the supermarket industry in Australia, in the formation of aRead MoreThe Market Structures, Monopolistic Competition, Oligopoly And Monopoly1507 Words   |  7 PagesIntroduction A market is a dynamic and restless institution where commercial dealing between buyers and sellers takes place. There are many companies and businesses that run the market. According to how the firm functions and other factors like the number of competitor firms and the type of products produced, the firm is classified into a particular market structure. The other competing firms in the market structure affect the pricing strategies of a particular firm in the same industry. Based onRead MoreMarket Structures : Perfect Competition, Monopoly, Monopolistic Competition And Oligopoly2078 Words   |  9 PagesExecutive summary The main purpose of this report is to introduce four market structures – perfect competition, monopoly, monopolistic competition and oligopoly, and their determinations of price and output. It also discussed the possibility for firms to generate profits in the short-run and/or in the long-run within these four market structures. It will be shown in the discussion that both monopolistic and oligopolistic firms are able to generate profits in both short-run and long-run, while firmsRead MoreWhy Prices Often Show Less Variation Under Oligopoly Than Under Other Types of Market Structure2036 Words   |  9 PagesWhy prices often show less variation under oligopoly than under other types of market structure Oligopoly is a market structure, which has some distinctive qualities that separate it from the others. Most notably they are that oligopoly has barriers of entry and is made of only a few companies, which supply the majority of the market and are interdependent. In other market structures price of the product and other decisions are often based on technical information such as marginal cost or demandRead MoreMaximizing Profits in Market Structures1287 Words   |  6 PagesAssignment: Maximizing Profits in Market Structures 1 What are the characteristics of each market structure? A competitive market is many sellers that sell similar products with very little control over the market selling price. An example of competitive market structure is a gasoline station. There can be many gasoline stations in a certain mile radius, the more gasoline stations there are in a small area the higher the competitive the market. Monopolies: Monopolies are a groupRead MoreMarket Structures Of The Market1198 Words   |  5 PagesINTRODUCTION Market Structures are classified in term of the presence or absence of competition. When competition is absent, the market is said to be concentrated. There is a spectrum, from perfect competition to pure monopoly. Market structure is the physical characteristics of the market within which firms interact. It involves the number of firms in the market and the barriers to entry. Perfect competition, with an infinite number of firms, and monopoly, with a single firm, are polar oppositesRead MoreMaximizing Profits in Market Structures Essays1238 Words   |  5 PagesProfits in Market Structures Maximizing Profits in Market Structures Competitive Markets The basic characteristics of a competitive market are one of many suppliers provides basically the same goods or services. There are so many suppliers and so many consumers that one supplier alone cannot influence the market prices. Each supplier, or price taker, is at the mercy of the current market conditions at any given time. (N. Gregory Mankiw, 2010, p.290).This market structure

Bangladesh newspaper Essay Free Essays

Bangla newspaper has a great importance from freedom war 1971 to show. Bangladeshi general peoples were being informed about the political. societal and economical position and activities from Bangla newspaper during under Pakistani authorities. We will write a custom essay sample on Bangladesh newspaper Essay or any similar topic only for you Order Now This is besides major grounds of political activities in the past and present. The day-to-day Prothom Alo and the day-to-day Ittefaq is the taking newspaper in Bangladesh. A batch of national and non-government advertizements are published these two newspapers. Bangladeshi publishing media is really strong in the universe because a immense figure of Bangla newspapers are published day-to-day nationally and locally in this state of land country of 1lac 44 thousand square kilometre. In malice of debut of new media like Bangla orbiter channels. FM and local wirelesss and on-line intelligence. Bangla newspaper is still really popular in our state because old peoples and house married woman prefer newspaper to Television. wireless or on-line intelligence. Another advantage of newspaper is that it can be read any clip of the twenty-four hours. Particular involvement to peculiar subdivision like athleticss. political. manner and manner. international intelligence. concern or column may change from adult male to adult male but most of peoples like political and taking intelligence subdivision. Leading intelligence. editorialist articles and column are most favourite subdivision in Bangla newspaper. Online Bangla newspaper is going more popular twenty-four hours by twenty-four hours for those people working in office or concern because update intelligence are acquiring immediately and they have non adequate clip to read newspaper individually in place or office. Above all the imortance of Bangla newspaper can non explained shortly. It opens the door of cognition and present state of affairs by presenting of import massage invariably. How to cite Bangladesh newspaper Essay, Essay examples

Revisiting The Clash Of Civilizations - Solution is Just a Click Away

Question: Discuss about the Revisiting the Clash of Civilizations. Answer: Three major approaches to international relation Three major approaches to international relation are namely Realism, Idealism/Liberalism and Radicalism. Outline of the assumption for the international order and chief actors Realism assumes that States perform the role of the ultimate actor as States are the key component of the analysis[1]. According to them, a non-state actor is of the secondary importance likely the multinational corporation. The second assumption relies on the behavior that the state is viewed as a unitary actor. Another assumption is that state is considered as an integrated actor. A state also performs as a rational actor; that means that their objectives are goal-centric and is consistent over the time[2]. Anarchy or the context of action is another assumption that realists believe which refers the ability of the state to survive on its own in the absence of a centralized authority[3]. The main actor of this perspective is the Niccolo Machiavelli. Concerning the idealism the key assumptions are the kind and generous nature of human that they are capable of through ethically inspired education. The immoral behavior of individual does not because of their flaws but due to the evil institutions[4]. The unavoidable adverse circumstances like the Wars can be resolved by strengthening the institutional arrangements[5]. Hans Morgenthau plays the role of the international actor for international The principal actor in the international system for radicalism is Karl Mark hence this theory also known as Marxism. The radicalism that assumes that labor control and the market exchanges can be controlled by the private interest of the individuals[6]. Dependency theory states that developed countries penetrate developing states to distinguish their power through multinational corporations, political advisors and others. World-system perspective enlightens that the nation states are the only entity of analysis[7]. It also assumes that for the development of all countries only a single path of evolutionary is considered. Another assumption is they disregard the concept of local and national development. The cold war was an ideological and an economic struggle among the two superpower countries that are the United Stets of America (USA) and the USSR that survives till the Second World War[8]. In the post-cold war, the Realism approach plays a major role in the international relation. As according to the realism, the state performs to be the ultimate actor and is responsible for its betterment and furtherance, the rivalry States must have the capability to resolve their conflicts as well as attain their economic growth. The individual states are responsible for overcoming their state of adversity and formulating their centralized authority[9]. Realists also emphasize on the balance of power in support of the post-cold war by proposing international politics that reflects on the ability to distribute national capability. The realistic theory also supports that the disputes that are created by the adverse circumstance like wars will be resolved in the future. It predicts the outcome of an event; however lack to determine the time of occurrence. Perspective of the long-term stability Long-term stability of the realism defined as in any adverse situation occurred in the state can be resolved unitedly with the help of the government thus satisfy the sayings state is viewed as a unitary actor[10]. Whenever there are circumstances that non-state actors like foreign minister regulated some policies different from the state decision, the state actors try to define those regulations based on their undertaken legislation hence perform as an integrated actor[11]. Considering the fact for the idealism their long-term stability relies on the cooperation between the two countries those who value the trading system by lowering their tariffs. Selective rules and norms also help to attain the stability by the uncertainty that undermines cooperation. The radicalism supports their long-term stability by the cooperation of the states legislation to enhance their power. Effective model for the theory of international politics regarding the regional integration Among the European, ASEAN, NAFTA and other approach, experts believe European Model to be the best for the theory of politics in term of the regional integration. Since the historical periods from the year 1950, European model has been the pioneer of the approach for the regional integration[12]. The strong principles of the concerned model are the process of political, legal, economic, social and cultural integration aspect so that the other nations or States also agrees to cooperate to work with European countries to achieve success, peace, wealth and stability[13]. The two examples for supporting this aspect are as follows: European Union members shared single currencies and abolished the approach of the trading barriers regarding the business for the member territories. This method comprises of the free passage across the country border for the member and applies the identical labor law within the boundary of these member countries. European model always works to resolve the mutual disputes and hence accomplish regional integration by contributing more peaceful interaction with its member[14]. The European model is also proving to be beneficial for its development and for resolving the conflicts during the Cold War. In this situation, even the United States warranties the nurturing role and the industrialized nature of the European economies[15]. Moreover, European model aspires to be an important civilian power and aims to promote their experience of regional integration in other states as well as that they can also support them to together works for the enhancement of the international relation[16]. Another aspect regarding the efficiency of the European model is their nature of peace, prosperity and security. As a consequence, they are capable of attracting the member states towards their practical approaches and promoting regional integration that will help the European territories to achieve immense prosperity in the international relation[17]. Proceeding in this way, they can be also able to foresee the future and hence works for the betterment of the undertaken countries. European model possess an excellent record of recovery from crisis and have capability strengthen their political will for attaining a secured position and an effective leadership in regional integration procedure[18]. They also genuinely invest in achieving their goal of the integration of their member countries and have the aim of overcoming conflict as a vital national interest. European also acts as an exporter of their values and observes in the World Trade Organization[19]. It indicates that European Model is capable of gaining an advantage in bilateral agreements for the developing economies as well as a model to resolve the worldwide negotiations. International balance of power and their independencies to shape the interaction between states As per as the balance of power theory their main approach is to predict the rapid changes in their international power and status. It emphasizes on the attempt that is taken by any of the one state to get the better of a particular region to intensify the balancing action[20]. As a consequence, this approach of balancing helps to maintain the stability of states or regions. The significance of this theory is the ability of the state's national security to dominate weaker neighbourhood regions or countries[21]. Exampling the scenario of the United Nation, most of the individual in the nineteenth century considered themselves as Republic or monarchies rather than democracies. The term for the Balance of Power came into consideration with the power relationship in the European state after the end of the Word War-I. However, the World War-I and its attendant political alignments enhance a procedure that results in the integration of most of the nations and the formation of the balance of power system[22]. This integration occurred in the Britain, Russia, United Nation and France against Austria-Hungary and Germany. Later in the World War-II, the war ended with the formulation of the balance of power in the Western and Central Europe and the United Nations and the Soviet Union. Over the year in 1873, they took initiative for attacking Spain for the Virginius affair and Chile over the matter of Baltimore issue in the year 1892[23]. However, The United Nations argued for the peace as at that time both the Spain and the Chile considered themselves as a republic. The similarity in their perception makes The United Nation to fit in with these states and thus sati sfying the insight of interdependencies among the integration of these countries. United Nation also performs like Actor as global manager and global counsel. The United Nation behaves like the Worlds Government, World Military Force and a Global Economic Manger. On the other hand United Nation acts as a transactional body and resembles to evaluate the global states issues and intends to advise the national government organizations[24]. Experts believe that these two different perspectives help the United Nations enrich their ability to act as a Global Counsel Model over the next century. United Nations Special Commission has played the role of Global Counsel on Iraq by destroying Baghdads arms that are intended for the mass destruction. Proceeding in this way the integrated other nation towards them and acts as a leader to protect other states. Enlighten a scenario from historical events in Cambodia, The United Nation serves as a transitional authority accomplished peacekeeping mission by surviving numerous elections, repatriated refugees and by constructing infr astructures for the country's betterment[25]. All these actions of the United Nations from the Ancient era to the present time prove to be beneficial for their acceptance of the global leader and also help them to integrate other states. Promotion of international conflict or co-operation by the globalization process The researcher emphasizes on the two factors that are raised regarding the promotion of the international conflict against the whole nation of globalization.- One of these phenomenons is the globalization process agrees with the concerned procedures. It is evident that if globalization process can never be reversed or intended to rely on a steady position, the importance of the globalization started losing their values and slowed down[26]. Exampling the scenario, where in the past era, Germans prefers Deutsche Mark to Euro in support of the globalized future. The benefits of globalization in its political terms regarding the struggling circumstances for authorization and liability enhance the worldwide technology to improve the trading procedure regarding the effective communication and consumption[27]. National governments also affirm the economic relations by associating with the significant role player organization like World Bank, World Trade Organization and others. Globalization also plays an important part in identifying the goals and an efficient way of approach for the same that is to understand the diverse culture. It is benefici al not only for the future of the government bodies; however, it is also advantageous to the community, business and human race. In terms of the modern era, the globalization process for accomplishing interaction and integration among community people, companies and diverse nation by the International Trade and ventures in the technological revolution like Information Technology. Another phenomenon regarding is The Naysayers who perceives or always expresses pessimistic views even though they felt the importance of the globalization procedures. They just deny the positive traits if the globalization and resembles that nothing had altered. The primary reason for this perception is that all the states still exist irrespective of the changes that occur during all these years. Agreeing on the impression of the globalization as all the headquarters of some enterprises still remain in the same territory of the states and their companies belongs to the same state[28]. They hence conflict the globalization process by denying their importance in the present era. However, the globalization process by indicating that this approach lacks sufficient power, authority, and scope to regulate the beneficial ends[29]. As a consequence, this procedure can be considered as disruptive and inequitable. Critics also depict that existing form of globalization is compelled by economi c power that promotes the hegemony of the western culture in the livelihood of the individual that puts the employment and the society at risk in the developed countries and it results in the exploitation of the weak individual of underdeveloped territories[30]. The process of globalization also creates a threat to the environment and demoralizes the theories of the communal stability by exposing national political institutions to support the economic change beyond their capability. Bibliography Ayoob, Mohammed. 2012. Was Huntington Right? Revisiting the Clash of Civilizations.Insight Turkey14.4: 1- 11. Burchill, S, A Linklater, R.J Devetak, J Donnelly, T Nardin, M Paterson, C Reus-Smit, and J True. Theories Of International Relations. Palgrave Macmillan, 2013. Chatterji, R. "Developments In International Relations: Issues And Controversies". Jadavpur Journal of International Relations 17, no. 1 (2013): 1-39. Curley, T. M. "Methodological Process Ethics In International Theory". International Relations 28, no. 2 (2014): 228-238. Daddow, Oliver J. International Relations Theory. London: SAGE, 2013. Devetak, R., S. Kaempf, and M. Weber. "Conversations In International Relations: Interview With Andrew Linklater". International Relations 27, no. 4 (2013): 481-505. Dunne, T, M Kurki, and S Smith. International Relations Theories. Oxford University Press, 2013. Dunne, T., L. Hansen, and C. Wight. "The End Of International Relations Theory?". European Journal of International Relations 19, no. 3 (2013): 405-425. Farrands, Chris, Imad El-Anis, Roy H Smith, and Lloyd Pettiford. A New A-Z Of International Relations Theory. London: I.B. Tauris, 2015. Hegghammer, Thomas. 2010/2011. The Rise of Muslim Foreign Fighters: Islam and the Globalization of Jihad.International Security35.3: 53-94. Ikenberry, G. John. 2011. The Future of the Liberal World Order: Internationalism After America. Foreign Affairs Vol 90, May/June: 56-68. Jackson, R, and G Sorensen. Jackson, R. And Srensen, G Introduction To International Relations: Theories And Approaches. Oxford University Press., 2015. Jones, David Martin and Michael L.R. Smith. 2007. Making Process, Not progress: ASEAN and the Evolving East Asian Regional Order.International Security32.1:148-184. Kazmi, Zaheer. Polite Anarchy In International Relations Theory. New York: Palgrave Macmillan, 2012. Lebow, R. N. "Karl Deutsch And International Relations". International Relations 28, no. 3 (2014): 288-295. Lieber, Keir A., and Gerard Alexander. 2005. Waiting for Balancing: Why the World is Not Pushing Back.International Security30.1: 109-139 Mueller, John. 2009. War has Almost Ceased to Exist: an Assessment.Political Science Quarterly124.2: 297-321 Paul, T. V. International Relations Theory And Regional Transformation. New York: Cambridge University Press, 2012. Rengger, N. "On Theology And International Relations: World Politics Beyond The Empty Sky". International Relations 27, no. 2 (2013): 141-157. Ruzicka, J. "A Transformative Social Scientist: Karl Deutsch And The Discipline Of International Relations". International Relations 28, no. 3 (2014): 277-287. Steans, Jill. Gender And International Relations. Cambridge: Polity, 2013. Stullerova, K. "In The Footsteps Of Karl Deutsch: On Nationalism, Self-Determination And International Relations". International Relations 28, no. 3 (2014): 313-332. Sylvester, C. "Experiencing The End And Afterlives Of International Relations/Theory". European Journal of International Relations 19, no. 3 (2013): 609-626. Viotti, Paul R, and Mark V Kauppi. International Relations Theory. Boston: Longman, 2012. Wigen, E. "Two-Level Language Games: International Relations As Inter-Lingual Relations". European Journal of International Relations 21, no. 2 (2014): 427-450. [1] T Dunne, M Kurki and S Smith, International Relations Theories. Oxford University Press, 2013. [2] R Jackson and G Sorensen, Jackson, R. And Srensen, G Introduction To International Relations: Theories And Approaches. Oxford University Press., 2015. [3] S Burchill et al., Theories Of International Relations. Palgrave Macmillan, 2013. [4] R. Chatterji, "Developments In International Relations: Issues And Controversies",Jadavpur Journal of International Relations17, no. 1 (2013): 1-39 [5] Mueller, John. 2009. War has Almost Ceased to Exist: an Assessment.Political Science Quarterly124.2: 297-321 [6] T. M. Curley, "Methodological Process Ethics In International Theory",International Relations28, no. 2 (2014): 228-238 [7] Oliver J Daddow,International Relations Theory(London: SAGE, 2013). [8] R. Devetak, S. Kaempf and M. Weber, "Conversations In International Relations: Interview With Andrew Linklater",International Relations27, no. 4 (2013): 481-505 [9] T. Dunne, L. Hansen and C. Wight, "The End Of International Relations Theory?",European Journal of International Relations19, no. 3 (2013): 405-425. [10] Chris Farrands et al.,A New A-Z Of International Relations Theory(London: I.B. Tauris, 2015). [11] Zaheer Kazmi,Polite Anarchy In International Relations Theory(New York: Palgrave Macmillan, 2012). [12] R. N. Lebow, "Karl Deutsch And International Relations",International Relations28, no. 3 (2014): 288-295 [13] Rosato, Sebastian. 2011. Europes Troubles: Power Politics and the State of the EUROPEAN Project,International Security35.4: 45-86. [14] T. V Paul,International Relations Theory And Regional Transformation(New York: Cambridge University Press, 2012). [15] Hegghammer, Thomas. 2010/2011. The Rise of Muslim Foreign Fighters: Islam and the Globalization of Jihad.International Security35.3: 53-94. [16] N. Rengger, "On Theology And International Relations: World Politics Beyond The Empty Sky",International Relations27, no. 2 (2013): 141-157. [17] J. Ruzicka, "A Transformative Social Scientist: Karl Deutsch And The Discipline Of International Relations",International Relations28, no. 3 (2014): 277-287. [18] Jill Steans,Gender And International Relations(Cambridge: Polity, 2013). [19] Jones, David Martin and Michael L.R. Smith. 2007. Making Process, Not progress: ASEAN and the Evolving East Asian Regional Order.International Security32.1:148-184. [20] K. Stullerova, "In The Footsteps Of Karl Deutsch: On Nationalism, Self-Determination And International Relations",International Relations28, no. 3 (2014): 313-332. [21] C. Sylvester, "Experiencing The End And Afterlives Of International Relations/Theory",European Journal of International Relations19, no. 3 (2013): 609-626. [22] Ikenberry, G. John. 2011. The Future of the Liberal World Order: Internationalism After America. Foreign Affairs Vol 90, May/June: 56-68. [23] T Dunne, M Kurki and S Smith, International Relations Theories. Oxford University Press, 2013. [24] Paul R Viotti and Mark V Kauppi,International Relations Theory(Boston: Longman, 2012). [25] Ayoob, Mohammed. 2012. Was Huntington Right? Revisiting the Clash of Civilizations.Insight Turkey14.4: 1- 11. [26] Oliver J Daddow,International Relations Theory(London: SAGE, 2013). [27] N. Rengger, "On Theology And International Relations: World Politics Beyond The Empty Sky",International Relations27, no. 2 (2013): 141-157. [28] E. Wigen, "Two-Level Language Games: International Relations As Inter-Lingual Relations",European Journal of International Relations21, no. 2 (2014): 427-450. [29] Lieber, Keir A., and Gerard Alexander. 2005. Waiting for Balancing: Why the World is Not Pushing Back.International Security30.1: 109-139. [30] K. Stullerova, "In The Footsteps Of Karl Deutsch: On Nationalism, Self-Determination And International Relations",International Relations28, no. 3 (2014): 313-332.