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see monopolymonopoly
, market condition in which there is only one seller of a certain commodity; by virtue of the long-run control over supply, such a seller is able to exert nearly total control over prices.
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a term used in bourgeois economics to designate a form of market structure in developed capitalist countries. Under oligopolistic conditions several large firms monopolize the bulk of production and marketing and conduct nonprice competition among themselves. The term “oligopoly” was introduced by the English writer T. More, the founder of Utopian socialism, in his Utopia (1516). A mixture of monopoly and competition, oligopoly is characteristic of almost all branches of present-day capitalist mass production.


Economics a market situation in which control over the supply of a commodity is held by a small number of producers each of whom is able to influence prices and thus directly affect the position of competitors
References in periodicals archive ?
But those strictures yield a suboptimal result when the oligopolies are negotiating with independents: the price they arrive at is suboptimal, which results in fewer independent networks and fewer choices for consumers.
2) This Interest in mixed oligopolies is due to their importance to the economies of Europe, Canada, and Japan.
Possibly an equally critical question is whether mergers of medical groups and hospitals in the long-term will serve to reduce direct competition and potentially generate savings or do they expand into fiscally and politically powerful oligopolies that eventually adversely affect physicians and the public and, therefore, require stringent government regulation.
It also reflects the genius with which he created the Frederick Douglass industry, which, like certain other nineteenth-century oligopolies, now chugs along on its own steam, having outlived the man who produced it.
When all that's settled, oligopolies divide the market up.
Running parallel to this policy debate has been the growth of a body of trade theory (exemplified by the work of Krugman and that of Brander and Spencer) that moves beyond the simplifying assumptions of Heckscher-ohlin to encompass the phenomena of increasing returns to scale, the influence of industrial oligopolies, and the importance of technological externalities.
Thus, at the end of the first decade of deregulation, the industries affected could again be described as oligopolies -- but now not regulated oligopolies, but market-driven oligopolies.
As Lamoreaux documents through detailed case studies, both price and nonprice competition in these nascent oligopolies were such that the probability of retaliation was uncertain.
While the textile market is profoundly influenced by its oligopolies of first world parentage, there is an important set of underdeveloped countries, the "giant dwarfs" (Hong Kong, South Korea, Taiwan, Brazil, Mexico, India, and perhaps Singapore) that have made an important place for themselves in the international textile market.
We have many such oligopolies that the government should eliminate but against which it is doing nothing.
The EESC therefore calls for a binding legal text to be drafted as a matter of urgency, for fair competition to be encouraged and for action to be taken against illegal oligopolies.