Where an oligopoly exists, a few large suppliers dominate the market resulting in a high degree of market concentration.... more on: Oligopoly
A domestic or international market structure comprising several firms, each of which is large enough to affect prices but none of which holds an uncontested monopoly position. While limited price competition may occur among sellers in an oligopoly, a single large producer may assume a leadership position in establishing prices or terms of sale that the other firms will tacitly follow. When concerned action or collusion occurs among oligopolistic firms, the association is known as a cartel.
A market structure in which there are only a few sellers of a commodity (competition among the few).
control of goods or services in a given market by a small number of companies. An example is the U.S. auto industry, in which three major manufacturers account for over ninety percent of the output of passenger cars.
An industry in which a few large sellers of similar products dominate the market.
A few firms' control over the marketplace.
The situation that exists when several companies overwhelmingly control an entire industry.
the situation in a market where there are only a small number of large suppliers.
A form of industry structure characterized by a few dominant firms. Products may be homogenous or differentiated. The behavior of any one firm in an oligopoly depends to a great extent on the behavior of the others.
A market structure in which a few, relatively large firms account for all or most of the production or sales of a good or service in a particular market, and where barriers to new firms entering the market are very high. Some oligopolies produce homogeneous products; others produce heterogeneous products. View Capstone Lesson(s) that address this concept
a market (or industry) in which there are few sellers
an industry characterized by few firms selling the same product with limited entry of other firms.
An economic situation in which a few companies control a market, often cooperating with each other to keep out new firms. In the U.S. film industry after the 1920s, the Majors and the Minors constituted an oligopoly.
(economics) a market in which control over the supply of a commodity is in the hands of a small number of producers and each one can influence prices and affect competitors
a form of a monopoly in which the effective control of a market is exercised by a limited number of sellers
a form of competition in which just a few sellers dominate a market
a market consisting of a number of interdependent firms, the barriers to market entry is relative high
a market dominated by a few large suppliers
a market structure in which there are a small number of interdependent companies in the industry
a market with few, identifiable sellers
a market with only a few sellers, each offering a product similar or identical to the others
an industry structure where there are only a few firms (at least two), or only a few main firms
an intermediate market structure between the extremes of perfect competition and monopoly
a small number of companies dominating an entire industry
is closer to monopoly than to perfect competition because it is typified by few firms (as few as two or three) and by moderately difficult entry. In product type, oligopoly markets may have either standardized or differentiated products. The open market is the market of dealers in government securities in New York City. The Open Market Committee is composed of 12 voting members: the 7 members of the Board of Governors and 5 of the presidents of regional Federal Reserve banks. Presidents of the regional banks serve on a rotating basis, with the exception of the president of the Federal Reserve Bank of New York, who is vice chairman and a permanent voting member of the committee.
A market or industry characterized by a small number of very large firms that have the power to influence the price of their product and/or resources.
a small group of companies that are the only ones to produce something (the same thing). The members of the group control the market and agree to sell their product at high prices. OPEC (Organization of Petroleum Exporting Countries) is an example of an oligopoly. 23
This is a market structure with few sellers and many buyers that produces either a similar or a differentiated product and makes entry difficult. Because oligopolists are reluctant to engage in price competition, there is an opportunity for monopolistic profits to accrue to the few firms in the market; however, economies of scale may offset this process.
A market dominated by so few sellers that action by any of them will impact both the price of the good and the competitors.
A Market characterized by a small number of producers who often act together to control the supply of a particular good and its market price.
A market structure in which there are only a few sellers of products that can be identical or differentiated.
a market where there are only a few service providers.
a market with a few sellers of quite similar products.
the form of imperfect competition in which the market has several firms, sufficiently few that each one must take into account the reactions of rivals to what it does
market structure in which there are a small number of sellers, at least some of whose individual decisions about price or quantity matter to the others.
A market condition in which relatively few firms produce identical or similar products
The trading condition where there are only a small number of sellers of a particular commodity in a market.
A few sellers who exert market control over prices.
A few sellers who exert market control overprices. OPEC: Acronym for Organization of Petroleum Exporting Countries founded in 1960 to unify and coordinate petroleum polices of the members. The headquarters of OPEC is in Vienna, Austria.
Where market availability is held by a limited number of firms.
A type of imperfect competition in which there are few firms, all of whom can have some effect on prices.
A market structure with just a few firms controlling a high percentage of total sales.
a market where a few large firms sell a product which may be alike or different which dominates an industry
A market structure that exists when a few sellers control the supply of a large proportion of a product. p. 57
A market dominated by a few large firms
market dominated by a small number of large firms, selling either identical or differentiated products, and significant barriers to entry into the industry. This is one of four basic market structures. The other three are perfect competition, monopoly, and monopolistic competition.
When a particular market is controlled by a small group of firms.
An oligopoly is a market form in which a market or industry is dominated by a small number of sellers (oligopolists). The word is derived from the Greek for few sellers. Some industries which are oligopolies are referred to as the "Big 3" or the "Big 4."