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Terms that are on use on this site.
There are 132 entries in this glossary.
O
| Term |
Definition |
| OAS |
Organization of American States - a body with representation
from all countries in the Americas. It is now charged with
27 non-trade issues in the Free Trade Area of the Americas
(FTAA) such as poverty, drug control, and democracy.
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| OECD |
Organization for Economic Cooperation and Development - an
elite group of highly industrialized nations.
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| Oligopoly |
A market that is dominated by a small number of sellers who would tend to collude in order to raise selling prices. When a formal agreement exists to control prices, it is known as a cartel.
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| Oligopsony |
Represents a market where there are a only a small number of buyers for a product or service. An example is the fast-food market (McDonalds, Burger King, etc) exerting control over beef producers to control meat prices.
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