Exam: GMAT (Verbal)

Definition: To carry out the responsibilities of a position, especially in a formal or official capacity, such as leading a ceremony or overseeing a game.

Example: The judge will officiate the wedding ceremony this weekend.

Definition: To perform a duty or function in an official capacity, such as leading a ceremony or overseeing a game.

Example: The judge will officiate the wedding ceremony this Saturday.

Definition: A person or company that is part of a market where a few sellers control the prices and supply of goods or services.

Example: The oligopolist raised prices, knowing that the competition was limited.

Definition: Describing a market or industry that is controlled by a small number of companies, leading to limited competition.

Example: The telecommunications industry is often considered oligopolistic due to the few major players that dominate the market.

Definition: A situation in a market where a small number of companies control most of the supply, so that the decisions of one company can influence prices and competition.

Example: In an oligopoly, a few large firms dominate the market, making it difficult for new competitors to enter.

Definition: Relating to a market situation where a small number of buyers have significant control over the market, affecting prices and supply.

Example: In an oligopsonistic market, a few large companies dominate the purchasing power, influencing the prices of goods.

Definition: A market situation where there are only a few buyers, and their decisions can significantly impact prices and costs in the market.

Example: In an oligopsony, the limited number of buyers can dictate terms to suppliers.

Definition: The practice of making the most of situations to gain an advantage, often without thinking about the long-term effects or moral principles.

Example: His opportunism in business led him to make quick decisions that sometimes backfired.

Definition: To make something as effective or functional as possible by improving it or making adjustments.

Example: We need to optimise our website to attract more visitors.

Definition: A person who has the right to buy or sell a financial asset at a specific price within a certain time period.

Example: The optionee decided to exercise their right to purchase the shares at the agreed price.

Definition: A person who organizes and coordinates various elements or activities to achieve a specific goal, often in a complex situation.

Example: The orchestrator of the event ensured that everything ran smoothly from start to finish.