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Definition of 'Oligopoly'
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.
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Investopedia explains 'Oligopoly'
The retail gas market is a good example of an oligopoly because a small number of firms control a large majority of the market.
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Check out the history and reasons behind antitrust laws, as well as the arguments over them.
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Getting big quickly looks good, but companies can get into trouble when they do it too fast. Find out how to spot this trouble.
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Watch how substitutes can change the market needs and prices.
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