Hello! In this comic you will learn why a partnership could be in an oligopoly, what an oligopoly and a partnership are and you will gain a deeper understanding of business organizations and market structure. This project is brought to you by Lindsey Greer.
What are business organizations?
A business organization is a person or group of people that work together in pursuit of a common commercial goal.
What is market stucture?
That's right son! There are also different types of markets...
There are 4 types. Perfect competition, oligopolies, monopolies, and monopolistic competition.
The market structure is the interconnected characteristics of the market.
What is an oligopoly?
Ah yes, an oligopoly is a market with few competitors, high risks involving entry into the market, which produce standardized products.
With that in mind, let us discuss what an oligopoly is.
What is a partnership?
Yes but what is a partnership?
A partnership is a firm or business owned and run by two or more people.
How could a partnership be in an oligopoly?
Wow dude! But how could a partnership be in an oligopoly???
Well you see, an owner of a business or corporation in a market of this type can sell or inherit parts of the business.
Therefore, a partnership can exist in any oligopoly so long as there are two or more people that own the company in a market that has only a few big businesses.