oligopoly
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—oligopolistic /ol'i gop'euh lis"tik/, adj./ol'i gop"euh lee/, n.the market condition that exists when there are few sellers, as a result of which they can greatly influence price and other market factors. Cf. duopoly, monopoly (def. 1).[1890-95; OLIGO- + (MONO)POLY]
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Market situation in which producers are so few that the actions of each of them have an impact on price and on competitors.Each producer must consider the effect of a price change on the others. A cut in price by one may lead to an equal reduction by the others, with the result that each firm will retain about the same share of the market as before but with a lower profit margin. Competition in oligopolistic industries thus tends to manifest itself in nonprice forms such as advertising and product differentiation. Oligopolies in the U.S. include the steel, aluminum, and automobile industries. See also cartel, monopoly.* * *
market situation in which each of a few producers affects but does not control the market. Each producer must consider the effect of a price change on the actions of the other producers. A cut in price by one may lead to an equal reduction by the others, with the result that each firm will retain approximately the same share of the market as before but at a lower profit margin. Competition in oligopolistic industries tends, therefore, to manifest itself in nonprice forms such as advertising and product differentiation. Characteristic oligopolies in the U.S. are the steel, aluminum, and automobile industries.* * *
Universalium. 2010.
Look at other dictionaries:
oligopoly — ol·i·gop·o·ly /ˌä li gä pə lē, ˌō / n pl lies: a condition in which a few sellers dominate a particular market to the detriment of competition by others Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. oligopoly … Law dictionary
oligopoly — (n.) 1887, from Gk. oligos little, small, in plural, few + polein to sell (see MONOPOLY (Cf. monopoly)) … Etymology dictionary
oligopoly — [äl΄i gäp′ə lē] n. pl. oligopolies [ OLIG(O) + (MON)OPOLY] control of a commodity or service in a given market by a small number of companies or suppliers oligopolist n. oligopolistic adj … English World dictionary
Oligopoly — 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, by analogy with monopoly , from the Greek ὀλίγοι (oligoi) few + πόλειν (pólein) to sell . Because there are … Wikipedia
oligopoly — 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. Bloomberg Financial Dictionary * * * oligopoly ol‧i‧gop‧o‧ly [ˌɒlɪˈgɒpəli ǁ ˌɑːlɪˈgɑː , ˌoʊ ] noun… … Financial and business terms
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… … Investment dictionary
Oligopoly — Das Oligopol bezeichnet in der Mikroökonomik eine Marktform, bei der es zwar viele Nachfrager, aber nur wenige Anbieter gibt (Angebotsoligopol). Ein Oligopson ist genau der umgekehrte Fall, bei dem wenigen Nachfragern viele Anbieter entgegen… … Deutsch Wikipedia
oligopoly — Competition amongst the few, where perceptions of competitors policies and reactions to perceived intentions count for more than price output considerations. Duopoly (control exercised by two competing agencies) is a special case of oligopoly,… … Dictionary of sociology
oligopoly — /ɒlɪ gɒpəli/ noun a situation where only a few sellers control the market ● An oligopoly means that prices can be kept high … Marketing dictionary in english
oligopoly — /ɒlɪ gɒpəli/ noun a situation where only a few sellers control the market ● An oligopoly means that prices can be kept high … Dictionary of banking and finance
oligopoly — /olagopaliy/ Economic condition where only a few companies sell substantially similar or standardized products. U.S. v. E.I. DuPont De Nemours & Co., D.C.Del., 118 F.Supp. 41, 49. Oligopoly markets often exhibit the lack of competition, high… … Black's law dictionary
