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- Oligopoly is a market structure with a small number of sellers and each seller is required to take into account rivals’ current actions and likely future responses to rivals' actions1. It is a situation where a small number of companies own or control the production of a particular good or provision of services within a market economy12. Oligopoly is defined as a market situation where independent sellers are few in number3.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.
Sociology Index. OLIGOPOLY. Recognised interdependence is the hallmark of oligopoly. Oligopoly is the situation where a small number of companies own or control the production of a particular good or provision of services within a market economy. Oligopoly is a market structure with a small number of sellers and each seller is required to take into account rivals’ current actions and likely future responses to rivals' actions.
www.sociologyindex.com/oligopoly.htmAn oligopoly (from Ancient Greek ὀλίγος (olígos) 'few', and πωλέω (pōléō) 'to sell') is a market in which control over an industry lies in the hands of a few large sellers who own a dominant share of the market.en.wikipedia.org/wiki/OligopolyOligopoly, the economist’s analogue to oligarchy in political science, is defined as a market situation where independent sellers are few in number.www.encyclopedia.com/social-sciences-and-law/ec… - People also ask
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WEBOct 30, 2023 · Unlike a monopoly, where a single corporation dominates a certain market, an oligopoly consists of a select few companies that combined exert significant influence over a market or sector.
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WEBOct 13, 2022 · An oligopoly is a collection of multiple companies in the same industry working together to fix prices to ultimately earn higher profits and discourage lower prices. The market power of an oligopoly is …
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