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oligopoly - 6 dictionary results

ol⋅i⋅gop⋅o⋅ly

[ol-i-gop-uh-lee]
–noun
the market condition that exists when there are few sellers, as a result of which they can greatly influence price and other market factors. Compare duopoly, monopoly (def. 1).

Origin:
1890–95; oligo- + (mono)poly


ol⋅i⋅gop⋅o⋅lis⋅tic [ol-i-gop-uh-lis-tik] , adjective
ol·i·gop·o·ly   (ŏl'ĭ-gŏp'ə-lē, ō'lĭ-)   
n.   pl. ol·i·gop·o·lies
A market condition in which sellers are so few that the actions of any one of them will materially affect price and have a measurable impact on competitors.

[oligo- + (mono)poly.]
ol'i·gop'o·lis'tic (-lĭs'tĭk) adj.

oligopoly [(ol-i-gop-uh-lee, oh-li-gop-uh-lee)]

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


Oligopoly

When a particular market is controlled by a small group of firms.

An oligopoly is much like a monopoly, in which only one company exerts control over most of a market. In an oligopoly there are at least two firms.

Investopedia Commentary

The retail gas market is a good example of oligopoly - there are a small number of firms that control a large majority of the market.

Related Links

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See also: Cartel, Duopoly, Monopoly, Oligopsony, Perfect Competition

Also spelled: oligopolies, oligopolistic


oligopoly

A market in which a limited number of sellers follow the lead of a single major firm. For example, the domestic automobile market was long characterized as an oligopoly, with American Motors, Chrysler, and Ford following the pricing lead of industry giant General Motors. Compare monopoly, oligopsony.


Main Entry: ol·i·gop·o·ly
Pronunciation: "ä-li-'gä-p&-lE, "O-
Function: noun
Inflected Form: plural -lies
: a condition in which a few sellers dominate a particular market to the detriment of competition by others
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