Economy

Oligopoly

Oligopoly refers to a small number of bidding products. The word is derived from Greek and is formed by two different concepts: oligo meaning "few" and polio meaning "seller". In this way, we can define oligopoly as a market of "few sellers". Each seller who is part of this process is very aware of each other' actions. Decisions made by one entrepreneur will affect others most of the time. Oligopolists often take advantage of their position to place higher prices and lower production. They are companies that collaborate with each other in order to maintain themselves and thus avoid competition.

¿Qué es el oligopolio?

An oligopoly is a small group of bidders who sell products at high prices. They are groups of few sellers who are aware of competition actions and are companies that collaborate with each other to avoid competition and maintain a high rating in the market and sales.

Characteristics of oligopoly

Types of oligopoly

Advantages of oligopoly

Disadvantages of oligopoly

Examples

Written by Gabriela Briceño V.
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