Essay on business economics focusing on convertible cars

This essay is on Convertible Cars. We would go finished the economic science theory and would see how an give away of increasing exit of sellers occurred for the trade of sofa bed cars. The crown of the car dash off outs pass arounded and closed upright by pressing a switch located on the dashboard of the car and the proprietor dismiss get the social welfargon of closed car when the roof is closed and even of open car when the roof is unresolved and indeed the cars atomic number 18 named as redeemable cars. ?Oligopoly, a change structure in which a few large firms subdue the market. Economists define an oligopoly is a market structure characterised by 1) a couple of(prenominal) sellers, 2) Either a consistent or differentiated convergency point and 3) Barriers to market ledger entry? (Layton, Robinson, & amp; Tucker, 2006, p. 245). car manufactures are the example of oligopoly market structure and therefore redeemable cars fall under oligopoly. Now there are few sellers of similar cars such as BMW, Porsche, Audi, Mazda, Corvette, Jaguar, Mercedes, Lexus, Mini Cooper, track Mustang and Pontiac Solstice (Anonyms, 2007). http://www.galttech.com/enquiry/cars/best-convertible-car.php All of these companies manufacture convertible cars and so convertible cars can be termed as differentiated product as they are of different specifications, facilities and even aerodynamics and hence can withal be termed as.

To manufacture a convertible car needs a large amount of enthronisation and so it?s too difficult to enter this market by a new manufacturer and this is oneness of the barriers to entry to this market of conv! ertible cars. BMW introduced its first four seated convertible 507 in 1956(Anonyms, 2006). http://www.bmweducation.co.uk/coFacts/view.asp?docID=66&topicID=1 At that time BMW was the only one manufacture of convertible cars. And right off we would go through the economics theory and would see how an issue of market competitor for convertible cars occurred. Before 1956 the cars which... If you want to get a wide essay, order it on our website: OrderCustomPaper.com

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