Monopoly means there is only one company in a products producing area. For example, there just have one shoes company such as Nick so all the people wear Nick shoes. The government will use anti-trust laws to fight monopolies because the Nick can decide whatever price they want and company’s target is profit. If they can control whole the market, they will not think weather poor people cannot afford to buy their shoes. If people cannot wear shoes, they will travel around and change a new government. The consumers also have their way to against monopolies. For example, consumers will get together to travel around near company and get together against their products.
Oligopoly means there are a few companies in a products producing area. For example, the Shell, Morrow and other oil companies get together to control gas price. They will give same high price and some people cannot afford it. On the other hand, poor people cannot use cars or what relate to gas. People will angry and travel around. People also get together and do not buy gas and other oil products. Maybe some days later, all the companies have to reduce their price.
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