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Oligopoly

What key characteristic distinguishes oligopoly from other market structures?

A

Interdependence: a firm's decisions depend on the expected reactions of its rivals.

B

Free market entry: a firm's decisions depend on the arrival of many new rivals.

C

Price-taking: a firm's decisions have no influence on the behaviour of its rivals.

D

Single-firm dominance: a firm's decisions are unaffected by competition from any rivals.

Oligopoly Flashcards

  1. A Level
  2. /Economics
  3. /Oligopoly

Flashcards for OCR A Level Economics Oligopoly, covering the key terms, economic models and case studies you need to recall for Component 01, Component 02 and Component 03. 20 cards, matched to the OCR A Level Economics (H460) specification. Recall questions account for roughly 25% of marks at A Level Economics, so these target the marks you can secure before the paper starts.