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Social Science Categories
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| Definition Of: |
OLIGOPOLY
A situation in which a small number of firms dominate a given industry or market. When four or fewer firms supply fifty percent or more of a given market the effects of oligopoly become apparent. These effects are reputed to be a rise in price and a lowering of quality because of the decline of competition (see also MONOPOLY)
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Sociology INDEX:
List of Terms: Terms beginning with "A", Page 1 |
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Page Number:
1 A: Page 1 of 1.
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