- noun a situation in which there are only a few sellers whose products are similar but not substitutes. The producers do not have a large enough share of the market to be important enough to influence the market. The situation is not quite a monopoly.
- noun the degree of competition in a market which is somewhere between a monopoly at one extreme and perfect competition at the other.
- noun a situation in which market forces are dependent on those buying and selling, and can be easily influenced by them.