In microeconomics, the oligopoly is a market dominated by a small number of sellers or service providers. It assumes the existence of several companies in a given market that offer a product or service, in such a way that none of them is dominant and it can impose on the others. Monopoly is a situation of legal privilege or failure of market in which there is a producer or service provider, which has great power of market, being the only one who has such a product, good or service and therefore dominates that market without competition. In general terms, is who controls the production and price although not at the same time.
Economic terms of Greek origin, oligos, little, small, short, monkeys, one single, unique, isolated and Pennyroyal, sell, traffic. They are economic market situations in which an industry, service or other economic activity is controlled by very few individuals or companies or by one single, thereby generating economic situations without competition imposed prices to consumers. Examples: power companies of Spain or the distributors of fuel.
