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oligopoly

Oligopoly is defined as an economic market where there is limited competition.

(noun)

If there are only two phone service providers for an entire large city and people have to choose from among those two, this is an example of an oligopoly.

See oligopoly in Webster's New World College Dictionary

noun pl. oligopolies

control of a commodity or service in a given market by a small number of companies or suppliers

Origin: olig(o)- + (mon)opoly

Related Forms:

oligopolist noun
oligopolistic adjective

See oligopoly in American Heritage Dictionary 4

noun 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.

Origin:

Origin: oligo-

Origin: + (mono)poly

Related Forms: