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Oligopoly: A market structure with just a few firms controlling a high percentage of total sales.

Open Market Operations : The purchase or sale of government bonds by the Federal Reserve in order to change commercial banks reserves.

Opportunity Cost: The highest-valued sacrifice needed to get a good or service.

Option: Anything that anyone wants. In economics, options (alternatives) are also called goods.

Organization of Petroleum Exporting Countries (OPEC) : A group of nations that produce most of the worlds oil and control most of the worlds oil exports.


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