Oligopoly is defined as having a few big sellers within a market. A real-world example of oligopoly would be fast food restaurant such as McDonald’s, Wendy’s, Burger King, and Dairy Queen, these fast food companies are constantly creating specials like 4 for $4 and $2 and $3 on certain items on their menu to attract customers. Each one of these consumers want to dominate the world of fast-food, but like everything we do in life there can only be one that’s on top at a time. McDonald’s, Wendy’s, Burger King, and Dairy Queen know their competitiveness in sells, will result in response from the other competition to think of something better to attract customers. At the end of the day customers will choose the most loyal, cheaper, and better restaurant
