Oligopoly | Wikipedia audio article
Channel: wikipedia tts
Date: 27/11/2018

This is an audio version of the Wikipedia Article:
Oligopoly

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SUMMARY
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An oligopoly (, from Ancient Greek ὀλίγος (olígos) "few" + πωλεῖν (poleîn) "to sell") is a market form wherein a market or industry is dominated by a small number of large sellers (oligopolists).  Oligopolies can result from various forms of collusion which reduce competition and lead to higher prices for consumers. Oligopolies have their own market structure.With few sellers, each oligopolist is likely to be aware of the actions of the others. According to game theory, the decisions of one firm therefore influence and are influenced by decisions of other firms. Strategic planning by oligopolists needs to take into account the likely responses of the other market.  Entry barriers include high investment requirements, strong consumer loyalty for existing brands and economies of scale.