Characteristics of oligopoly
Characteristics of oligopoly
An oligopoly is a market structure dominated by a few large firms that supply most of the market. Its key features are a high concentration ratio, interdependence between firms, and high barriers to entry. Oligopolists may sell homogeneous or differentiated products.
Step-by-step lessons covering Edexcel A A Level Economics 3.4.4 Oligopoly for A Level Economics. Each lesson works through exam-style questions in Paper 1, Paper 2 and Paper 3 format. Start with the core supply-and-demand models before moving on to the more evaluation-heavy macroeconomic policy topics.