Oligopoly
What Oligopoly means in Economics GCSE, as defined for AQA, Pearson Edexcel.
Definitions of Oligopoly
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Reference: AQA
A market structure characterised by a small number of large firms dominating the industry, with the majority of market share concentrated among a few key players.
A market dominated by a few large firms, leading to a high concentration ratio.
A market structure dominated by a small number of large, interdependent firms.
A market structure dominated by a few large firms that are interdependent.
Topics that use Oligopoly
- Non-competitive markets (AQA GCSE)
- Business competition (Pearson Edexcel GCSE)
- Business economics (Pearson Edexcel GCSE)
Related terms
- Monopoly
- Non-price competition
- Price maker
- Barriers to entry
- Break-Even Point
- Competition
- Consumer welfare
- Dynamic efficiency
Using Oligopoly in the exam
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