Miscellaneous Quiz / Oligopoly Terms

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Can you name the Oligopoly Terms?

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DefinitionTerm
A market structure in which only a few sellers offer similar products
An agreement among firms in a market about quantities to produce or prices to change
A group of firms acting in unison
The study of how people behave in strategic situations
A game between two captured prisoners that illustrates why cooperation is difficult to maintain even when it is mutually beneficial
A strategy that is best for a player in a game regardless of the strategies chosen by the other players
Simpliest form of an oligopoly
Laws which prevent companies from becoming monopolies
Creator of Game Theory
A situation in which economic participants interacting with one another each choose their best strategy given the strategies that all the others have chosen

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