ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Some examples of oligopolies include the car industry, petrol retail, pharmaceutical industry, coffee shop retail, and airlines. In each of these industries, a few large companies dominate.

Detailed explanation-2: -Oligopoly market structure. Cell phone companies such as T-mobile and ATT belong to the Oligopoly market since several cell phone production firms compete against one another. In cell-phone industries, the different provider has their price; hence there is no single firm possessing market power.

Detailed explanation-3: -Let us take the case of India, no doubt, there are several automobile industries. But a dozen of them rule the market. These include Hyundai, Maruti, etc. Automobile sector is an example of organized oligopoly.

Detailed explanation-4: -The best illustration of an oligopoly is the automobile industry. An oligopoly is a market with imperfect competition in which a few major businesses dominate the industry as the automobiles industry dominates numerous others by providing identical goods and services.