oligopoly

American  

[ol-i-gop-uh-lee] / ˌɒl ɪˈgɒp ə li /

noun

1. the market condition that exists when there are few sellers, as a result of which they can greatly influence price and other market factors.

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oligopoly British  

/ ˌɒlɪˈɡɒpəlɪ /

noun

1. economics a market situation in which control over the supply of a commodity is held by a small number of producers each of whom is able to influence prices and thus directly affect the position of competitors

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oligopoly Cultural  

1. Control over the production and sale of a product or service by a few companies.

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Other Word Forms

• oligopolistic adjective

Etymology

Origin of oligopoly

First recorded in 1890–95; oligo- + (mono)poly

Example Sentences

"The problem with this industry is that the supply chain is an oligopoly and sometimes even a duopoly."

From BBC

Instead, we have an oligopoly of dominant banks that issue them: JPMorgan Chase, Bank of America, American Express, Citigroup and Capital One, which together account for about 70% of all transactions.

From Los Angeles Times

We are leaving fragmented competition for the era of oligopoly.

From MarketWatch

Carolyn Rogers endorsed a competition shakeup in the highly concentrated financial-services industry, saying the country’s banking sector is an oligopoly and changes could help lift Canada’s prolonged productivity slump.

From The Wall Street Journal

OTTAWA—The Bank of Canada’s No. 2 official endorsed a competition shakeup in the highly concentrated financial-services industry, saying the country’s banking sector is an oligopoly and changes could help lift Canada’s prolonged productivity slump.

From The Wall Street Journal

Related Words

• cartel
• holding
• ownership
• patent
• trust