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