Oligopoly definition
Meaning of oligopoly
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Glossary of social sciences terms
Oligopoly meaning and definition :
Oligopoly. A situation in which a small number of firms dominate a given industry or market. When four or fewer firms supply fifty percent or more of a given market the effects of oligopoly become apparent. These effects are reputed to be a rise in price and a lowering of quality because of the decline of competition. (See also Monopoly.)
For the term oligopoly may also exist other definitions and meanings, the meaning and definition indicated above are only indicative not be used for medical and legal or special purposes.
Source: http://www.faculty.rsu.edu/users/f/felwell/www/glossary/GLOSSARY%20OF%20THE%20SOCIAL%20SCIENCES.docx
Source web site to visit : http://www.faculty.rsu.edu/
Author : Frank W. Elwell
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Glossary of social sciences terms
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