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Characteristics of Oligopoly

Some of the characteristics of oligopoly are as follows. So let us check it out some more information oligopoly to know more about it. Also know more about Advantages and disadvantages of oligopoly and its features.

  1. In oligopoly few firms control over the market.
  2. High barriers to entry in seen in oligopoly.
  3. Lack of available substitutes.
  4. Only few sellers in oligopoly.
  5. Control over supply.
  6. Lack of uniformity of size of firm
  7. Price rigidity
  8. Advertising and selling costs
  9. Group behavior
  10. During oligopoly conflicting attitudes of firms can be observed.
  11. Inter dependence of firms in oligopoly
  12. Intense competition
  13. Product differentiation may or may not exist

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Process Validation Types

Types of Process Validation: There are mainly four types of process validation. Following are some of the types of process validation so let us see all types one by one:

Prospective process validation

Retrospective process validation

Concurrent process validation

Revalidation

Prospective process validation: "Documented evidence - Validation carried out based on the pre-planned protocol"

Retrospective process validation: "Documented evidence - Validation carried out based on the analysis and review of the historical data"

What is the Full Form of MIS?

MIS - Management Information System

MIS is the study of the  organizations, people and technology,to know the relationship among them in terms of computer system.

MIS study using computerized system is used to evaluate the efficiency and effectiveness of decision making of people in an organization.

Strength and weakness of an employee can be identifed with the help of this study.