Concept information
Preferred term
monopolies, duopolies, and oligopolies
Definition
- Monopolies, duopolies, and oligopolies all represent market structures that deviate from perfect competition and in which production decisions by any single firm directly affect the sales or selling price of other firms. In these types of markets, the limited number of sellers that exist maintain some control over the price of the goods or services sold, and these goods or services are either unique or significantly differentiated from other potential competitors in the market. [Source: Encyclopedia of Business Ethics and Society; Monopolies, Duopolies, and Oligopolies]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/monopolies,_duopolies,_and_oligopolies
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