Answer:
a few firms producing either a differentiated or a homogeneous product.
Explanation:
The world Oligopoly comes from Ancient Greek, and literally means "few sellers".
An oligopoly is therefore a market structure in which there are only a few sellers. These sellers can provide either a similar product, or differentiated products.
For example, the world market for smartphones is an oligopoly dominated by Apple, Samsung, and Huawei. These three companies offer the essential same product: a smartphone, but each one tries to distinguish itself in some way. Apple provides brand, prestige, and luxury, Samsung reliability a different operating system, and Huawei, cheaper lines for lower income people.
