The most closely associated type of market structure is oligopoly.
market structure is an arrangement of a competitive marketplace by the number of suppliers, the degree of product differentiation, and the ease in switching among competing alternatives. both monopolistic competition and oligopoly are types of “market structures.”
the automobile industry occurs within an oligopolistic market structure. a characteristic feature of an oligopolistic market is that there are just a few firms holding significant shares in the market share while controlling prices with what's known as price leadership. oligopolies also display interdependence on one another – each firm understanding that if they don't follow pricing or production decisions set by one company, they might fail to be profitable themselves because it would
what type of market structure is most closely associated with the automobile industry?
the automotive market is considered an oligopoly because of the small number of players who dominate the industry.
cartels are not necessary however, to maintain an oligopoly, just high barriers to entry. this is why it's difficult for a new auto company to start up and be successful, as it would need a distribution network that could compete with that of a much larger company or companies in order to enter the industry.
which type of market structure is most closely associated with fast food?
taco bell's market structure is called a monopolistic competition. this type of market occurs when there are three or more firms offering similar but not identical products for sale. the close similarity between the offerings from competing firms enables them to stably exist within the same industry, but also means that one firm has little ability to raise its prices relative to others without incurring financial loss by doing so. in other words, large swathes of consumers have a strong preference for what they buy and do not care about price differences among brands as long as the quality remains the same. the scale at which taco bell operates should be profitable because it can attain a greater volume of sales than a single mcdonalds store ever could should it want too,
which characteristic or motivation is not strongly associated with entrepreneurs?
a central motivation for entrepreneurs is an internal sense of dissatisfaction with the status quo, in which they constantly strive to improve existing conditions. entrepreneurs are constantly witnessing opportunities in which they can improve their daily lives or the standard of living of others.
this motivation is not strongly associated with them because entrepreneurship frequently means following personal interest instead of material rewards when applying one's talents and creativity. squeezing all the beauty out of life by constantly seeking change seems like a superficial consequence when pursuing success in business. this is why many prefer careers that offer financial security at the expense of choosing unconventional work schedules or ones that seek fulfillment over financial security.
many people avoid entrepreneurial pursuits because there's no telling whether it'll be successful,
what dominates the media industry?
the entertainment industry has been dominating for a long time now.
in fact, as of 2018, movies made up the largest share of the u.s.'s gross domestic product at 12% and tv shows/seasoned programs were not far behind at 11%. so chances are good that you should stay tuned to what these industries have to say about the future!
