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. 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. Related Terms:
Antitrust
Cartel
Duopoly
Monopoly
Oligopsony
Perfect Competition
Price Fixing |