Here is the synopsis of our sample research paper on OPEC AND ECONOMICS. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
This 5-page paper discusses economics as it pertains to OPEC. The paper also talks about monopolies, oligopolies and cartels. Bibliography lists 2 sources.
Page Count:
5 pages (~225 words per page)
File: D0_MTopececon.rtf
Buy This Term Paper »
Unformatted sample text from the term paper:
Countries. Explain the difference between a monopoly and an oligopoly, and a cartel. A monopoly is defined as a scenario in
which a single company (or a single group) provides all the goods or services to a market (Investopedia, 2009). Monopolies are characterized by an absence of competition, and many times
can result in high prices and poorly-made products (Investopedia, 2009). An oligopoly is similar to a monopoly, in that it describes a
market that is controlled by a small group of companies (Investopedia, 2009). Unlike a monopoly, however, there are at least two firms controlling the market (Investopedia, 2009). However, with an
oligopoly, there is little competition (meaning prices are set, rather than having the market determine the prices). Then there is a cartel,
which is oligopolistic behavior. A cartel is when a small group of producers of a good or service who band together to regulate supply of the product/service in an attempt
to manipulate prices. The difference between an oligopoly and a cartel is that the cartel not only controls the market, it makes an agreement between itself to supply only so
much to the market. Though this means members of the cartel get an equal share (which might be less than if they were separate entities), it also ensures that none
of the members undercuts another in terms of pricing or supply. Provide an example of a monopoly, an oligopoly, and a cartel.
Typically, an example of a monopoly is a first-mover or pioneer, a business that is the first to introduce a product or service to the market. This happens frequently
...