Please explain to me with an example of a real-world industry or market that would be described by economists as an oligopoly market© BrainMass Inc. brainmass.com September 21, 2018, 1:36 pm ad1c9bdddf - https://brainmass.com/economics/globalization/an-example-of-a-real-world-industry-or-market-that-would-be-described-by-economists-as-an-oligopoly-159972
This structure exists when a few sellers of products or services control the supply of a large proportion of the market. These firms tend to set similar prices and create more difficult barriers for entry into the market. In oligopoly is market form in which a market is dominated by a small number of sellers (oligopolistic). Oligopolistic markets are characterized by interactivity.
An example of a real-world industry or market that would be described by economists as an oligopoly is embedded.