Oligopoly

Oligopoly is derived from two greek words, ‘Oligi’ meaning few and ‘Polein’ meaning to sell.

An oligopoly refers to a market situation in which only a few firms control the supply of a commodity.

None of these firms can prevent the other from having an influence in the market and they sell products that are slightly different.

There are enough options available to the consumers and the prices are moderate because of competition.

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