Results for tag: "Oligopoly"

Oligopoly is a market structure in economics in which a small number of firms dominate the market. These firms have a large market share and are able to influence the market price of their products. Oligopolies are characterized by high barriers to entry, which make it difficult for new firms to enter the market. The firms in an oligopoly are interdependent, meaning that the actions of one firm will affect the other firms in the market. This interdependence leads to strategic behavior, such as price fixing and collusion, which can be detrimental to consumers. Examples of companies in an oligopoly market include Apple, Microsoft, Amazon, Walmart, and ExxonMobil. Show Less Read more