What Constitutes an Oligopoly?  An oligopoly is when a few firms, typically between two and ten, hold the majority of market share. That is in contrast with a monopoly, wherein one company governs everything, and is definitely unlike a perfectly competitive industry where there are hundreds of small players battling it out. Instead, it's that awkward middle ground where a few big giants keep a close watch on each other's every move.  The airlines you think of include American

Monopoly in a market is when a single producer or supplier has significant control over the supply of a particular good or service. A Monopoly occurs when all or most of the market share is attained by one firm/business. Having high control gives them the power to control prices according to their liking. Due to low substitutes, they may exploit their power by increasing prices, reducing product quality, and playing with the supply to increase their sales. Those firms may use

When it comes to managing money, most people have many dreams —  buying a car, studying abroad, or accumulating wealth for the future to save for retirement. Still, these dreams only become reality when they are turned into goals. Without clear financial goals, it’s easy to overspend, underconsume, or miss out on important financial opportunities. Setting goals, on the other hand, helps us easily make informed decisions towards them.  Goals can be categorized in three ways: s

What does ‘Monopolistic Competition’ mean in the first place? -> Picture this: On your way to school every morning, you have a ritual of...

A Production Possibility Curve is an economic curve that shows the maximum output or different combinations of output that can be...

Upon hearing the term "game theory", you may picture tense chess games or elaborate military strategies. But game theory doesn't only...

Supply  refers to the ability and willingness of firms to offer goods and services at a given price level. While price is the key...

Introduction  In a world where we constantly hear about startups “scaling” and corporations expanding globally, one economic principle...

A price ceiling, sometimes referred to as a maximum price, is a cap set by law on the highest amount that can be charged for a good or...

Perfectly competitive markets are a key idea in economics that help us understand how ideal markets should work. Picture a lively...

Have you ever thought about how your choices affect the people around you who you’ve never met? You’ve probably seen someone light a...

Managing finances, particularly when juggling savings, wants, and requirements, can feel overwhelming. A straightforward and efficient...

At some point in our lives, we all have to make  a decision. We make the choice to pick steak over salad for our dinner date. We make the...

Being a student often means juggling tight budgets while managing academic responsibilities. Sometimes, saving might help with college...

“To rent or to buy that is the question” In his bestselling book Rich Dad Poor Dad , Robert Kiyosaki redefines what an asset truly is. He...

Before I start, there is some context that you, the reader, need to know about: the history of money. Money is a generally acceptable way...

The word entrepreneur has several meanings to it, although everyone might have a slightly different definition. There is, of course, the...

Before I start, I would like to share my own story on how I first got into investment. When I was 15, I tried to make a better use out of...