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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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Collins Dictionary of Sociology, 3rd ed. © HarperCollins Publishers 2000
The following article is from The Great Soviet Encyclopedia (1979). It might be outdated or ideologically biased.



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.

The Great Soviet Encyclopedia, 3rd Edition (1970-1979). © 2010 The Gale Group, Inc. All rights reserved.


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
Collins Discovery Encyclopedia, 1st edition © HarperCollins Publishers 2005
References in periodicals archive ?
Oligopoly firms create and appropriate value by collusion as seen through the coercion approach used by DeBeers in the diamond industry (Spar, 1994).
The proposition offers an empirically useful criterion for deriving an optimal emission tax rate for oligopoly firms.
In oligopoly competition, we may find inner optional equilibrium production of two firms in the Cournot model.
They are most emphatically not a part of any oligopoly: they have no market power themselves and would not add any discernible market power to the oligopoly.
As such, the learning objectives for this activity are focused on the specific attributes of oligopoly that are unique to this market structure.
Much of his effort was devoted to problems of wages, unemployment and income distribution, but early in his career he wrote a paper, 'Price theory and oligopoly' (Rothschild 1947), that critically reviewed developments in the theory of imperfect competition.
Our purpose of this study is to reconsider the Theocharis problem in differentiated oligopoly, following the spirit of Hadar [5] in which the steady state is shown to be stable if the degree of differentiation is weak and the coefficient matrix of the naive dynamic system has a dominant diagonal under the general forms of the demand and cost functions.
The second volume contains 40 selections on production, costs, and supply; monopoly and antitrust; and monopolistic competition and oligopoly. Volume 3 organizes 36 selections in sections on distribution theory, capital and profit, labor economics and the theory of human capital, public economics and welfare analysis, and regulation.
Summary: Lebanon's cement market is an oligopoly controlled by Holcim, Sibline and Cimenterie Nationale, three producers benefiting from government regulation of imports which has effectively been a ban since import licenses were last granted in 2001.
First of all I must say: Today there is no one power or oligopoly determining the energy demand or prices for the region of the Middle East, including Russia and the hinterlands up to the Caspian.
For me, that several utility companies should raise their tariffs almost simultaneously and by comparable inflation-shattering rates is not the hallmark of a well-functioning, competitive market but rather screams of dysfunction and oligopoly.
Two underdogs, including Hyundai of Korea and Volkswagen of Germany, are expected to break the long-term oligopoly held by the top-six Japanese and local brands.