Define oligopoly

1.	Define oligopoly
Answer» It is derived from two greek words oligi and polien .Oligi means only and polien means seller.so the word mean only seller.It is a type of market in which only one seller selling his product with large no.of buyers.And there is also restriction in entry and exit of firm.<br>It is a form of market in which there are a few big sellers of a commodity and a large number of buyers. Each seller has a significant share of the market<br>a state of limited competition, in which a market is shared by a small number of producers or sellers.

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