ASK & ANSWER | Browse questions and answers from our community experts
Showing 1 - 3 of 80 results.
Is the oil and gas industry an oligopoly?
Asked by unknown
1 Answers
The Automobile Industry is a form of oligopoly market. The world Oil production market or Oil refining is also another oligopoly dominated by the ''seven sisters'' multinational oil companies like BP, Shell, and Exxon.
Is the oil and gas industry an oligopoly?
Asked by unknown
1 Answers
The Automobile Industry is a form of oligopoly market. The world Oil production market or Oil refining is also another oligopoly dominated by the ''seven sisters'' multinational oil companies like BP, Shell, and Exxon.
How does the price of oil affect the economy?
Asked by unknown
1 Answers
A drop in fuel prices means lower transport costs and cheaper airline tickets. However now that the United States has increased oil production, low oil prices can hurt U.S. oil companies and affect domestic oil industry workers. Conversely, high oil prices add to the costs of doing business.