Oligopoly in real world
Upcoming SlideShare
Loading in...5
×

Like this? Share it with your network

Share

Oligopoly in real world

  • 1,131 views
Uploaded on

This Slides provides insight into how OPEC raised its price using collusive oligopoly strategy but could not keep too long!

This Slides provides insight into how OPEC raised its price using collusive oligopoly strategy but could not keep too long!

More in: Business
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Be the first to comment
    Be the first to like this
No Downloads

Views

Total Views
1,131
On Slideshare
1,131
From Embeds
0
Number of Embeds
0

Actions

Shares
Downloads
4
Comments
0
Likes
0

Embeds 0

No embeds

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
    No notes for slide

Transcript

  • 1. “People of the same trade seldom meet together , but the conversation ends in a conspiracy against the public, or in some diversion to raise prices .” Adam Smith from The wealth of Nations.
  • 2. OPEC( Organization of Petroleum Exporting Countries)• Established in 1960• Consists of 13 oil exporting nations• Controls 75% of the oil reserves• Goal is to maintain high oil price
  • 3. OPEC AND THE WORLD OIL MARKET
  • 4. What did OPEC do?
  • 5. Conclusion• Oligopoly firms maximize their total profit by forming a cartel and acting like monopolist• Self interest drives from cooperation even when it is in their mutual interest