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Difference between Monopoly and Oligopoly

Some points on difference between Monopoly and Oligopoly are as follows. So let us check it out some information on Monopoly and oligopoly to know more about it.

  1. In monopoly Just one company dominates the industry while in oligopoly a few company dominates the industry.
  2. In monopoly the particular company controls the pricing while in oligopoly the pricing is fair but it is highly influenced by the elite few.
  3. In monopoly there is only one viable seller while in oligopoly More than one seller
  4. Monopoly makes it almost impossible to start a business  while in oligopoly it is difficult to start a business but not impossible.
  5. Example of monopoly is Google  and example of oligopoly is Fast-Food restaurants.
  6. Also check out advantages and disadvantages of monopoly to learn more about monopoly.

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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.