oligopoly definition

  • noun:
    • an industry condition in which vendors are so few that the activities of any one of them will materially affect price and possess a measurable affect competitors.
    • An economic condition in which only a few vendors exert control of the market of a commodity.
    • (economics) an industry for which control over the availability of a commodity is within the arms of a small number of producers and every one could affect rates and influence competitors

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