A very small number of firms producing a homogeneous product
Explanation:
An oligopoly is a corporate structure regulated by a few firms. It has been said that a market is highly competitive as divided by a few companies. Although only a few businesses rule, other small businesses will exist on the market as well.
Another oligopoly example is automotive manufacturing;
Ford (F), GMC and Chrysler are the main car manufacturers in the United states. In spite of smaller mobile operators, Verizon (VZ), Sprint (S), AT&T (T), and T-Mobile (TMUS) continue to be the industry's leading network.
