Business and Industries - Globalization and the Digital Revolution - Oligopoly and Global Media

5 important questions on Business and Industries - Globalization and the Digital Revolution - Oligopoly and Global Media

Under which circumstances do we call a concentrated industry a oligopoly?

When the market of the industry is controlled by a few firms.

How do economists measure the level of oligopoly of an industry?

They calculate the proportion of the industry's market that is held by the top four (or sometimes eight) largest firms.

What are the effects of the globalizing media?

They treat audiences as consumers, and they're most attentitive to those with high incomes.
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In regards to media globalization, Klein (2000) discusses the invasion of traditionally "unbranded space." What does she mean by this?

By using sponsoring, corporate logos are proliferated more in museums and rock concerts.

Can you explain the "media imperialism thesis?"

When core countries, in particular the United States, export their cultural products globally, indigenous art is threatened and replaced by foreign products (to some degree), which leads to homogenization.

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