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Comparison Between P. O. W Camps And Oligopoly

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The advertisement increases the selling of the products in P.O.W camps and oligopoly market. According to Radford, they used the shouting method of the priced ratio of the products that they wanted and the products that they need. However, they adjusted to use a wooden board to provide the ratio of the trading of the products by providing the priced ratios between the products that they wanted and the products that they need (Radford 189-201). In primitive times, ancient people used bartering to trade because printing have not invented yet. Since primitive time used bartering system, they required to exchange their information to trade with one another. Similarly, to the trading in P.O.W camps, Egypt trader used their voice to provide the information …show more content…

Furthermore, it reduced time and effort in trading and introduce themselves to the traders. Similarly, to oligopoly market in outside prison, the competition use advertisement to provide information to consumers. According to Mateer et al, oligopolistic had few sellers with similar product (187). The gasoline companies consider as oligopoly because there are a lot of company selling the same product. For example, Safeway gas station, Costco gas station, and more. They use the same inelastic product, however, they cannot change the price like monopoly does because there still competition between firms. This is the reason that they require advertising to persuade consumers that they are a trustful seller. Since the oligopoly market has the ability to adjust the price by decreasing the benefit from consumer, oligopolies use pathos to convince their consumer to choose their company than other company. The goal for advertisement is to make the consumers choosing them by advertising their good service for the consumer. Oligopoly require a good public opinion to increase their profit and reduce the retaliation from the consumer on price

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There was a high demand for luxurious goods that were special to each region which caused a great increase in trade. This also occurred on the Trans-Saharan trade routes with gold. Religion also played a big factor in why trade was increasing in these two trade routes. Increases in technology helped trade become more efficient and faster. For example, the compass helped people trade along the Indian Ocean sea lanes.

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They would exchange goods without meeting each other in person, this method kept trade civil and the location of the mines a secret. With all these high demand goods, they were able to become wealthy through trade and a powerful

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During the Progressive Era there were multiple of changes occurring that people became overwhelmed. New resources in the oil market, industrialization, fights for equality. There were many factory jobs, however, no one to stand up for the workers. So of course people will turn to their government for help, the power house of the country. However, even the government was picky in what they helped with.

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For example, some big items they traded was silk, spices, different forms of wood, cloths, fruits, pottery, and other silverware. These were

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State of limited competition, in which a market is shared by a small number of producers or sellers. Meaning the market only has a handful of companies functioning in the same structure. The substitution of a product for another product or one vehicle for another it is completely possible in an Oligopoly market only from one of the few companies in the Oligopoly market structure. In the United States these companies would include Ford, GM, and Chrysler (Grunert n.d.). It is extremely difficult for any new Company wanting to enter into an Oligopoly market structure.

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Trade like this started in the 4th century BC. Once these traders brought their items to

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It was a strategic point for merchants to come exchange their goods and take needed or rare products back to their country of

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Any of these items could be considered part of a down the line exchange if the recipient, after claiming a desired amount, passed the remaining portion on to another recipient either by selling, trading, or giving it as a gift. The Phoenicians themselves were great traders and mastered navigation of the seas to establish a trading network. The freelance Phoenician traders would carry a wide assortment of goods to regional shores including the coveted purple cloth made from the dye of a sea snail found near Tyre. The Iron Age also experienced an explosion of the merchant class, creating a host of profit seeking, independent, traveling middlemen. Emissary traders had to contend with a new trade and power dynamics as well.

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Furthermore, the Phonecicens method of capering money into their kingdom is one that has set them apart greatly from others. Trade has been Phoenccicia’s universal way of creating a profit for their empire. The Phonecicians have been very adequate at the concept of trade that many opportunities have been achievable. Of course, Phoneciens have been greatly successful at running their empire through their

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Market Structure - Oligopoly Oligopoly is a market structure whereby a few number of firms owns a lion’s share in the market. This market structure is similar to monopoly, except that instead of one firm, two or more firms have control in the market. In an oligopoly, there are no upper limits to the number of firms, but the number must be nadir enough that the operations of one firm remarkably influence and affects the others (Investopedia, 2003). The Walt Disney Company is categorized under an oligopoly market structure.

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For example, when China started using silver as currency, they traded with the British and Dutch. The Dutch would pay with pesos that had been made by African slaves using Incan and Aztec forms of labor. The silver would then eventually find its way to more places. Although, the people at the time didn’t know this, the world was interconnected because of trade, and because of the many places and people involved in trade. Why was trade so pervasive in the Islamic world prior to contact with the Portuguese?

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one good for another good, one good for the money or one good for a service. Also, people trade things they have too much of for things they do not have enough of. Trade was a very important necessity, bring people together in a comparable way. During the trade, important things

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The oligopoly market is set up in a way so that competitors can survive because each is unique and there are so few competitors that they are virtually indispensable even if some ethics atrocity

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Hence we assume this to be a situation of duopoly. The 2 companies sell products which are very close substitutes and are constantly fighting for greater market share. A person may buy a Coke product instead of a Pepsi one, and vice versa. The objective of both is to maximize their profit.

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They are differentiated by their products such as soft drinks and soap powder. There also exist little firms who produce similar products such as petrol. However, in oligopoly, there are barriers to enter the market. Similar to monopoly, the barriers are no different, and it differs from one industry to the other. This is why the firms in oligopoly are interdependent with each other, because the firms all have large market shares and each of their actions would affect the rest, so any decision-making will be based on their competitors’ reactions.

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