Answer:
A. High entry costs prevent new producers from entering the market.
Explanation:
Oligopoly is the opposite of monopoly (only one company that offers a service or is the supply). An oligopoly has few companies offering one service or product which can control the supply and market price of it, such as automotive sector or airline. One of the things that limited competition in an oligopoly is the costs of entry, to set up the manufacturer, to make research and marketing and be able to compete with these companies the entry cost is high.
<em>The Butterfly Effect</em> is one of the applied models in weather forecasting. It makes us understand that the reliability of forecasting drops considerably after 10 days.
Of course, the butterfly wings cannot cause a big storm, but in some cases, if the actual conditions can be studied it can have an effect, but is very hard to detect.
Professor Lovejoy, from McGill University, comments that "<em>the Butterfly Effect treats the weather as random and uses historical data to force the forecast and reflect a realistic climate"</em>.
The Industrial Revolution transformed economies that had been based on agriculture and handicrafts into economies based on large-scale industry, mechanized manufacturing, and the factory system. New machines, new power sources, and new ways of organizing work made existing industries more productive and efficient.
<u>Key features of the Industrial Revolution</u>
- Population shift – moving from rural agriculture to work in factories in cities.
- Mass production of goods, increased efficiency, reduced average costs and enabled more to be produced.
- The rise of steam power, e.g. steam trains, railways and steam-powered machines.
The Atlantic, Pacific, Indian, Arctic, and <span>Antarctic</span>
