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oligopoly |
Also found in: Dictionary/thesaurus, Legal, Financial, Wikipedia, Hutchinson | 0.01 sec. |
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oligopoly: see monopoly monopoly (mənōp`əlē) ..... Click the link for more information. . oligopolyMarket 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. oligopoly 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 How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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While the Commission has pushed market liberalization relentlessly in order to promote corporate competitiveness, many markets, for instance energy, have become more oligopolistic in the course of that process. The BOT was reluctant to transform the oligopolistic structure of the banking sector, and thus adopted an uneven approach to functional de-segmentation that favoured private financiers and allowed banks to seek quick profits by bringing in short-term external funds through an offshore banking facility. Because information technology is highly advanced, it is susceptible to monopolistic or oligopolistic control. |
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