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What is Oligopoly ?

Meaning and information of oligopoly are given below so let us check it some more points on oligopoly to know more about it. Also check out Advantages & Disadvantags of oligopoly for more information.

  1. An oligopoly consists of small number of firms.
  2. Each firm has a large market share 
  3. The firms have an incentive to collude
  4. The firms are interdependent
  5. Lack of uniformity
  6. Entry and exit barriers
  7. Imperfect competition
  8. Few sellers
  9. Companies sell either identical or differentiated products.
  10. Non-Price competition is common.
  11. Rivals know about each others behaviors and actions.

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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.