Business A-Level
Oligopoly
What Oligopoly means in Business A-Level, as defined for Pearson Edexcel.
Definition of Oligopoly
A market structure characterized by a small number of large firms that possess significant market power and exhibit interdependence.
Topics that use Oligopoly
- Market (Pearson Edexcel A-Level)
Related terms
Using Oligopoly in the exam
Definition questions usually carry one or two marks, and examiners look for the precise wording. Write the definition from memory, check it against the version above, and then use the term in a longer answer on the same topic so it sticks.
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