This document defines and describes oligopoly, a market form dominated by a small number of interdependent sellers. An oligopoly lies between perfect competition and monopoly. It discusses the characteristics of oligopolies including profit maximization and ability to influence prices. The document also outlines different types of oligopolies such as pure/differentiated and collusive/non-collusive. It provides examples of oligopolies in industries like petroleum, telecommunications, and banking.
This PPT includes Oligopoly Market. It is explained in detail.
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This PPT includes Oligopoly Market. It is explained in detail.
This is for educational purpose only. If you own any of the content please let me know. We are not here to hurt anyone's emotion. Please try to co-operate and use this for educational purposes only.
Monopoly is a pivotal area to the study of market structures, which directly concerns normative aspects of economic competition, and sets the foundations for fields such as industrial organization and economics of regulation. There are four basic types of market structures under traditional economic analysis: perfect competition, monopolistic competition, oligopoly and monopoly...
Monopoly is a pivotal area to the study of market structures, which directly concerns normative aspects of economic competition, and sets the foundations for fields such as industrial organization and economics of regulation. There are four basic types of market structures under traditional economic analysis: perfect competition, monopolistic competition, oligopoly and monopoly...
The market is presented as a form that is for the cultural advantage of the general public. The market structure comprises different types of markets, and the structures are portrayed by the nature and the level of competition that exists for the goods and services in the market. The forms of the market, both for the products market and the factor market or the service market, is to be decided by the idea of rivalry that is winning in a specific kind of market.
The Market structure is an expression that is resultant for the quality or the adequacy of the market competition that is winning in the market.
A market can be defined as a group of firms willing and able to sell a similar product or service to the same potential buyers.
Imperfect competition covers all situations where there is neither pure competition nor pure monopoly.
Perfect competition and pure monopoly are very unlikely to be found in the real world.
In the real world, it is the imperfect competition lying between perfect competition and pure monopoly.
The fundamental distinguishing characteristic of imperfect competition is that average revenue curve slopes downwards throughout its length, but it slopes downwards at different rates in different categories of imperfect competition.
Monopoly refers to the market situation where there is a
Single seller selling a product which has no close substitutes.
Monopolies are characterized by a lack of economic competition to produce the good or service, a lack of viable substitute goods, and the existence of a high monopoly price well above the firm's marginal cost that leads to a high monopoly profit
The word “oligopoly” comes from the Greek “oligos” meaning "little or small” and “polein” meaning “to sell.” When “oligos” is used in the plural, it means “few” ,few firms or few sellers.
DEFINATION:
Oligopoly is that form of market where there are few firms and there is natural interdependence among the firms regarding price and output policy.
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2. DEFINATION
• Oligopoly :- An oligopoly is a market form in
which a market or industry dominated by a
small numbers of sellers.
OR
Oligopoly is a situation where a few large
firms compete against each other and there is
an element of interdependence in decision
making of these firms.
3. • Oligopoly lies between perfect competition
and monopoly.
• Few number of companies in the market.
• Produce identical products and compete on
price, product, quantity and marketing.
4. TYPES OF OLIGOPOLY MARKET
A. Pure and differentiated
oligopoly market
B. Collusive and non-collusive
oligopoly
5. • PURE OLIGOPOLY :- Pure oligopoly refers to
market where all the firms are producing
homogenous product. There is no any kind of
differences. Here all products are perfectly
substitutable.
• Differentiated oligopoly:- An oligopoly market is
said to be differentiated oligopoly when the
products produced by firms having some kind of
differences. It is also called imperfect market.
6. • COLLUSIVE OLIGOPOLY :- If the firms in
oligopoly market are functioning on the basis
of an agreement between them , it becomes a
collusive oligopoly.
• NON-COLLUSIVE OLIGOPOLY :- Where there is
no any kind of agreements and conducts
between the firms. Each firms running on the
basis of the policies themselves.
7. CHARACTERISTICS
• Profit maximization
• Ability to set price
• Entry and exit
• Number of firms
• Long run profits
• Product differentiation
• Perfect knowledge
• Interdependence
• Non-price competition
8. MAIN FEATURES OF OLIGOPOLY
• Small number of firms
• Interdependence
• Cooperation
• Presence of monopoly element
• Advertising
9. BARRIERS TO ENTRY
1. NATURAL BARRIERS TO ENTRY :- When the market is
not big enough for more firms.
2. LEGAL BARRIERS TO ENTRY :- occurs when a legal
barrier protects a small number of companies.
10. MODELS OF OLIGOPOLY MARKET
• COURNOT-NASH MODEL
• BERTRAND MODEL
• KINKED DEMAND CURVE MODEL
11. SOME EXAMPLES
1. IN INDIA :- The petroleum and gas industries ,
telecommunication , cement industry.
2. IN CANADA :- 7 companies that control banking
industries in canada are-Royal bank of
canada,Bank of nova scotia,Bank de montreal,
Canadian imperial bank of commerce,
Desjardins group and Banque nationale du
canada.
3. WORLDWIDE:-Microsoft,Sony, and Nintendo
dominate the video game console market.
