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OLIGOPOLY
The situation where a small number of companies own or control the production of a particular good or provision of services within a market economy. This situation typically arises from the concentration of ownership and provides a challenge to liberal theory which claims benefit from a plurality of producers operating in a very competitive market. See: MONOPOLY / .

Last updated 2002--0-9-

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Athabaca University ICAAP

© Robert Drislane, Ph.D. and Gary Parkinson, Ph.D.
The online version of this dictionary is a product of
Athabasca University and
ICAAP

*This social science dictionary has 1000
entries covering the disciplines of sociology, criminology, political
science and women's study with a commitment to Canadian examples and
events and names