Identify each of the following industries as monopoly, oligopoly, or perfect (se

Question

Identify each of the following industries as monopoly, oligopoly, or perfect (semi perfect) competitive.
N.B. The answer is not country-specific (i.e. should not change from a country to another for most countries, but to help you have a more clear view, you are advised to think in the context of big countries e.g. G7 countries)

- Petrol

- Hotel

- Auto

- Package Holiday

- Pharmacy

- Banking

Explanation / Answer

- Petrol --> oligopoly - Hotel ---> perfect competition - Auto --> monopoly - Package Holiday ---> perfect competition - Pharmacy ----> oligopoly - Banking ---> oligopoly

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