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Oligopoly, a market dominated by a few producers or suppliers. It falls somewhere between a situation where there is what is known as perfect...

Whilst the model of the firm under conditions of perfect competition is the starting point of the theory of supply in microeconomics, it is generally...

Economics, History of

Returning to the innovations of the 1930s, the theory of monopolistic or imperfect competition remains somewhat controversial to this day. The older...

See all search results in Encarta Articles (5)

- small number of sellers: an economic condition in which there are so few suppliers of a product that one supplier's actions can have a significant impact on prices and on its competitors

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