Economics for Business: Oligopoly, UK Consumer Harm & Regulation

This presentation provides an overview of the oligopoly market structure, characterized by a small number of dominant sellers who influence prices and market dynamics. It uses examples such as petrol retailers and soft drink producers to illustrate oligopolistic behavior. The presentation discusses the advantages of oligopoly, such as potential for competitive strategies, but also highlights the harm it can inflict on UK consumers due to reduced innovation and productivity. It emphasizes the importance of government intervention to regulate these markets, promote efficiency, and protect consumer interests. The presentation concludes by reinforcing the idea that in an oligopoly, a few large organizations hold significant market share, necessitating regulatory oversight.