The OPEC comes Under

Oligopoly and Cartel Market structure

The term Oligopoly
derives from the Latin 'oligoi-meaning few", and
Which Translates to few sellers. A cartel is a poléð'-meaning "to sell"
special case of oligopoh when competing firms
in a

industry collude to create explicit. formal agreements to fix

pricesandproduction quantities
cartel can be formed in aY IHdustry bulit S Only practicalin
an oligopoh where there is a small
unber of firms

Ir's Features are as Joltons

1iFewer Firms Larger Marhet Shure

1 marketcan hze hundireds of sellers. but if the top 4-5 firnis hae a
onhined marker
tare of over S teanbe classified as am