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Oligopoly
Oligopoly designates a market or industry which is dominated by a small number of sellers (oligopolists). Since the number of participants is small, each oligopolist is aware of the actions of the others. As a consequence, decisions of one firm influence, and are influenced by the decisions of other firms. Strategic planning by oligopolists always involves taking into account the likely responses of the other market participants.
Oligopoly
Oligopoly designates a market or industry which is dominated by a small number of sellers (oligopolists). Since the number of participants is small, each oligopolist is aware of the actions of the others. As a consequence, decisions of one firm influence, and are influenced by the decisions of other firms. Strategic planning by oligopolists always involves taking into account the likely responses of the other market participants.
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Definition of Oligopoly - Finance dictionary
