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Definition

Concentration

Concentration refers to the extent to which industry sales are dominated by only a few firms. In a highly concentrated industry the intensity of competition declines over time. High concentration serves as a barrier to entry into an industry because it enables the firms that hold large market shares to achieve significant economies of scale and thus, to lower their prices to stymie attempts of new firms to enter the market.

Webster Dictionary Meaning

1. Concentration
- The act or process of concentrating; the process of becoming concentrated, or the state of being concentrated; concentration.
- The act or process of reducing the volume of a liquid, as by evaporation.
- The act or process of removing the dress of ore and of reducing the valuable part to smaller compass, as by currents of air or water.
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