Einar H. Dyvik
Research expert covering Nordics and global data for society, economy, and politics
Monopolies and Oligopolies - Statistics & Facts
Monopolies and oligopolies are types of market structure where one (mono-) or a few (oligo-) firms hold extraordinary market power, preventing competition in the marketplace. They are both forms of imperfect competition, a situation where the firms involved in a market have power over the price which they set for their products, may differentiate their products from each other via marketing and advertising, and are sheltered from competition by barriers to entry into the market. Monopoly is a case of imperfect competition where a single producer has the dominant position and is the price-setter in the market, while oligopoly refers to several firms dominating a market in which they all sell comparable goods.
