Like a monopoly, each oligopoly has significant power over their market, which means that they can influence market conditions, such as labor, pricing, and supply.

Because there are only a few businesses in an oligopoly, there is typically a high degree of interdependence between them. The actions of one business can have a significant impact on the other businesses in the oligopoly, and vice versa. This means that businesses that compose an oligopoly must pay close attention to the actions of their fellow businesses and respond accordingly. This avoids direct communication or interactions between the members of the oligopoly which would likely be recognized as price fixing or collusion. This behavior can be difficult to detect and prevent, and it can be harmful to consumers and other businesses in the market.

Some examples of industries that are commonly considered oligopolies in the United States include the automobile industry, the airline industry, and the telecommunications industry.