Asked by
Cesar de la Torre
on Nov 26, 2024Verified
In the U.S. market, people often refer to the "Big Three" in autos and the "Big Four" in accounting. These terms suggest that these two industries are
A) purely competitive.
B) monopolistically competitive.
C) monopolies.
D) oligopolies.
Big Three
A term typically used to refer to the three dominant firms in a specific industry or sector, often used to describe the top auto manufacturers in the United States.
Big Four
A term often referring to the four largest professional services networks in the world, offering audit, assurance, tax, consulting, advisory, actuarial, corporate finance, and legal services.
Autos
Short for automobiles, referring to vehicles that operate independently without human push or pull, primarily cars and trucks used for transportation.
- Distinguish among various market configurations by examining competitive dynamics, the quantity of enterprises, and the distribution of market shares.
- Identify the conditions under which an industry can be classified as oligopolistic based on concentration measures.
Verified Answer
SK
Learning Objectives
- Distinguish among various market configurations by examining competitive dynamics, the quantity of enterprises, and the distribution of market shares.
- Identify the conditions under which an industry can be classified as oligopolistic based on concentration measures.