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Difference between Monopoly and Oligopoly

Submitted by frndzzz on Sat, 10/21/2017 - 06:21

Some points on difference between Monopoly and Oligopoly are as follows. So let us check it out some information on Monopoly and oligopoly to know more about it.

  1. In monopoly Just one company dominates the industry while in oligopoly a few company dominates the industry.
  2. In monopoly the particular company controls the pricing while in oligopoly the pricing is fair but it is highly influenced by the elite few.
  3. In monopoly there is only one viable seller while in oligopoly More than one seller
  4. Monopoly makes it almost impossible to start a business  while in oligopoly it is difficult to start a business but not impossible.
  5. Example of monopoly is Google  and example of oligopoly is Fast-Food restaurants.
  6. Also check out advantages and disadvantages of monopoly to learn more about monopoly.

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