Oligopoly Today

By: Alyssa Burnell

What is an Oligpoly?

It's defined as "a state of implied competition in which a market is shared by a small number of producers"; in simple words it's a market controlled by few, who collaborate to set prices for the whole market.

How does it influence today's economy?


High Profits: little competition of highly demanded goods ensures steady high income

Simple Choices: easy to compare goods/services because they're few companies providing them

Competitive Prices: Companies keep prices in competition with the other companies involved in the market


Difficult to Start: Large/advanced companies control the market so it's hard for a small company to jump into the market

Less Choices: Limited options for the service/good wanted

Fixed Prices: Corporations and businesses agree together on a fixed price


Wireless Providers: AT&T, Sprint, Verizon, Virgin Mobile, etc.

Airline Companies: Delta, Spirit, United Airlines, American Airlines

Television Providers: Time Warner, Dish Network, DirectTV, Comcast

Oligopoly (Gangnam Style)

Video Summary

This youtube video is an adapted version of the song 'Gangnam Style' that describes what an oligopoly is and also gives some examples. They makers sing about the goals and process the corporations in an oligopoly have in a fun and student friendly way.