1. The reason the oligopolies exist is because of company collaboration, now what this means is sometimes companies will see more of a financial benefit from collaborating with another company in the creation of a good or product than if the company were to decide to create the product alone and compete with the other competitors, also oligopolies can also be a company that is dominating a market. An example of an oligopoly that I frequently purchase products is Starbucks, this is considered an oligopoly because it dominates the market of not only coffee but other beverages as well, the reasoning behind this is that Starbucks has little to no competition, because its beverages have a more targeted demographic that keeps coming back for more, they have created a well known and reliable customer base that won’t normally go to other competitors because of their dependability and their competitive ability making it more likely for them to be chosen over another company. This is only one example of a well-saturated array of examples that can be used to describe Oligopolies, this is just one that I frequent myself, but I’m sure if any individual were to look into the companies and places they visit or purchase from frequently they would see that oligopolies are quite common.
