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Monopoly vs Oligopoly

I'm trying to do 25 mark questions that could possibly come up in my exams. How would I go about writing a 25 marker for the differences between Monopolies and Oligopolies? Like sure there are the basics like pure monopolies having the whole market share and legal monopolies having 25% or more. Whereas Oligopolies are markets dominated by a few large firms and firms are interdependent on each other. But I can't think of how to give long chains of reasoning and good evaluations. I also can't use the way I normally do a final substantiated judgement. Conclusion, reasoning, however it depends on. If anyone has any advice or somewhere that has a structured answer it would be great help.
Reply 1
I do A level business so the structure may be different but we were taught to write a plan before every 25 marker:

introduction
argument for
argument against
conclusion - AJIM

possible plan for that question could be:


introduction
- explain what a monopoly is
- explain what a oligopoly is
- link to the difference of them

argument for
- monopoly
- typical objectives
- the PESTLE environment for a firm in this market
- porters 5 forces - how hard is it for new entrants or how easy is it with suppliers
- functional objectives/strategies - marketing - how easy is it , what would they focus on
- what strategic direction would they focus on - market share or market development
- how easy is growth
- how would they increase profitability
ect

argument against
- do the same as above for an oligopoly

conclusion - AJIM
- compare them both and weigh up what one is best for certain scenarios
- compare them in relation to situations such as external environmental changes - what would would handle change or new entrants better
- give a judgement
Original post by jjxton
I do A level business so the structure may be different but we were taught to write a plan before every 25 marker:

introduction
argument for
argument against
conclusion - AJIM

possible plan for that question could be:


introduction
- explain what a monopoly is
- explain what a oligopoly is
- link to the difference of them

argument for
- monopoly
- typical objectives
- the PESTLE environment for a firm in this market
- porters 5 forces - how hard is it for new entrants or how easy is it with suppliers
- functional objectives/strategies - marketing - how easy is it , what would they focus on
- what strategic direction would they focus on - market share or market development
- how easy is growth
- how would they increase profitability
ect

argument against
- do the same as above for an oligopoly

conclusion - AJIM
- compare them both and weigh up what one is best for certain scenarios
- compare them in relation to situations such as external environmental changes - what would would handle change or new entrants better
- give a judgement


thanks a lot that really helps. I've attempted the question. unfortunately I forgot the conclusion however I still managed 19 out of 25 marks.

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