Multiple choice general knowledge history Which of the following is the basic characteristic of Oligopoly? A few sellers, one buyer A few sellers, many buyers A few sellers, a few buyers More Sellers and more buyers Reveal answer Fill a bubble to check yourself B Correct answer Explanation Oligopoly is a market structure characterized by a few sellers dominating the market while selling to many buyers. This creates interdependence among sellers and allows for significant market control by the few dominant firms.