Oligopoly

What does it Mean? A situation in which a particular market is controlled by a small group of firms.

An oligopoly is much like a monopoly, in which only one company exerts control over most of a market. In an oligopoly, there are at least two firms controlling the market.
Investopedia Says... The retail gas market is a good example of an oligopoly because a small number of firms control a large majority of the market.

Terms Related Links

Antitrust
Cartel
Duopoly
Imperfect Competition
Monopoly
Oligopsony
Perfect Competition
Price Fixing

Terms Related Links
Antitrust Defined - Check out the history and reasons behind antitrust laws, as well as the arguments over them.

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Economics Basics: Monopolies, Oligopolies and Perfect Competition - Watch how substitutes can change the market needs and prices.

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