There is an "oligopoly", which is the dominating of the market by a select few businesses. Then there's __, which is when no single business dominates their respective market.
What's that called?
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Sign up to join this communityThere is an "oligopoly", which is the dominating of the market by a select few businesses. Then there's __, which is when no single business dominates their respective market.
What's that called?
There is an infrequently used term Polyopoly also sometime spelled Polypoly.
polyopoly
A market situation in which there are no large sellers but many small ones.
If it's not a monopoly or an oligopoly, then there are a number of companies competing in the market. So it's a competitive market.
A perfect competitive market, if it exists.
Free market: an economic market operating by free competition : an economic condition of unrestricted buying and selling
Hmm, there very first word I thought of was "fragmented market", see the definition: http://www.businessdictionary.com/definition/fragmented-market.html
A marketplace where there is no one company that can exert enough influence to move the industry in a particular direction. The market consists of several small to medium-sized companies that compete with each other and large enterprises.
It is not 1 word...
You may want Monopsony which is where there is a single customer, such as a Department of Defence (and those it allows you to sell your military hardware to).
...this should have been a comment to polyopoly, but I don't have the points, so here is in support of polyopoly:
The Web is the board for a new game Phil Salin called “Polyopoly.” As Phil described it, Polyopoly is the opposite of Monopoly. The idea is not to win a fight over scarce real estate, but to create a farmer’s market for the boundless fruits of the human mind.
http://blogs.law.harvard.edu/doc/tag/polyopoly/
But I should say, that OED did not recognize it as a word:
No dictionary entries found for ‘polyopoly’.
A Common / The Commons
https://en.wikipedia.org/wiki/Commons
excerpt :
" A common is a shared resource managed by a community who create rules to make the resource durable. The resource can't be monopolised by one or a group of individuals, it has to be as opened as possible. The resource is not private or public, it's a third thing : a common. "
...
And what concerns private enterprise, profit generated from the hoarding / private enclosure of what is to be considered our commons ( any knowledge, natural resources, land, ... ) can IMHO be considered a Georgist approach to taxation