What is Oligopoly

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Oligopoly Definition of Oligopoly:

Oligopoly is that form of imperfect competition where there are a few firms in the market, producing either a homogeneous product or producing products which are close but not perfect substitute of each other) Oligopoly is a combination of two words- oligo + poly. Oligo means few and poly means seller Oligopoly differ from monopoly where there is only one seller and from perfect and monopolistic competition where there are many sellers. According to J. Stigler(Oligopoly is the situation in which a firm bases its market policy in part on the expected behaviour of a few close rivals. Characteristics of Oligopoly The following are the characteristics of oligopoly V1. 

Few Seller:
There are few sellers in market and every seller is in the position to affect the price v

2. Standardised Product: The product of different seller may be homogeneous or differentiated. 3. 

Difficult Entry and Exit : Under oligopoly it is difficult for a new firm to enter the market 

4. Interdependence of Business Decision : The nature and degree of competition among the oligopolist makes them interdependent in respect of decision making The firms in the oligopoly industry are aware of their interdependence and always consider their rivals reaction when selecting prices, advertising budget and other business activity etc . 

5. Sales Promotion and Advertisement Activity :
 All firms spend a large amount on advertisement and sales promotion activities to i ncrease the sale of their product. 
6. Lack of Uniformity in Size of Firms:
 The firms are not uniform in the sze. Classification of Oligopoly Oligopoly can be classified under different bases V1.

 On the basis of Product Differentiation: 

Oligopoly is perfect if the product produced by the competing firms is homogeneous or identical On the other hand oligopoly is imperfect or differentiated when the competing firms produce product which are close but not perfect substitute. /

2. On basis of Entry of Firm: 
An open oligopoly refers to market situation where the new firms are free to enter. pnpósd jo 

3. Closed Oligopoly :
 That market situation where the new firms are not allowed free entry into the market.
 4. On the basis of Agreement: ta) Collusive Oligopoly :
 It refers to that market situation where the firm instead of competing comblindtogether to fix the price and output of industry)
 (b) Non-collusive Oligopoly :
 This oligopoly implies lack of any understanding or agreement among the firm On the Basis of Price Leadership:
 
5.(a) Partial 0ligopoly: 
It refers to that market situation where the industry is dominated by one larger firm which is looked upon as the price leaderUhe rest of the smaller firm looks to the price leader for lead in fixing the price of their product)

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भारत में बेरोजगारी के आंकड़े नेशनल सैंपल संघटन द्वारा एकत्रित एवं प्रकाशित किय जाते है।  विश्व में चीन प्रथम राष्ट्र है जिसने आधिकारिक रूप से पारिवारिक कार्यक्रम नियोजन की अपनाया  निगम कर कंपनियों की आय पर लगाया जाता है  भारत की पहली जनगणना 1872 में की गई थी। योजना आयोग का उपाध्यक्ष कैबिनट मंत्री का दर्जा प्राप्त व्यक्ति होता है । वित विधेयक द्वारा सरकार वर्ष भर राजस्व एकत्र करने की व्यवसथा करती है । India brand equity fund  की स्थापना  1956 में की गई थी। मल्होत्रा समिटी का गठन बीमा क्षेत्र में सुधार के लिए सिफारिश देने के लिए किया जाता है। माह विभाजन  का वर्ष शब्द जनसंख्या के सन्दर्भ देने के लिए 1921 से बढ़ती जनसंख्या से प्रयोग किया जाता है।  Dwcra ग्रामीण क्षेत्र में महिला और बाल विकास कार्यक्रम से अभिप्राय है। घाटे कि वित्त व्यवस्था का अर्थ आगमन से अधिक खर्च करना  सम्पत्ति की अवधारणा में मानवीय सम्पत्ति को फ्रीडमैन ने सम्मिलित किया था । प्रबल प्रयास सिद्धांत आर रोड़ान से सबांधित है । भारत की द्वितीय योजना सोवियत मॉडल पर आधारित है कृ...
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