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OLIGOPOLY CHARACTERISTICS: The three most important characteristics of oligopoly are: (1) an industry dominated by a small number of large firms, (2) firms sell either identical or differentiated products, and (3) the industry has significant barriers to entry.
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PHENOMENON An event or action that is subject to investigation, analysis, and explanation using the scientific method. Phenomena are the sorts of things that science seeks to explain. They can be common events, like the blowing wind, or unusual, like the extinction of the dinosaurs.
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
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"Anyone who has never made a mistake has never tried anything new. " -- Albert Einstein, physicist
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JV
Joint Venture
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