Saturday, June 7, 2008

H2: Oligopoly: Indonesia to leave OPEC

In H2, towards the end of term 3 we'll begin our study of oligopoly - a market structure characterised by a few large firms (with a high concentration ratio), high barriers to entry, and a large degree of mutual interdependence.
One type of oligopoly is the cartel - for example, the OPEC cartel for petroleum. This video from BBC explains why Indonesia is leaving the OPEC cartel:
http://news.bbc.co.uk/1/hi/business/7424903.stm

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