noun
pl. -·lies control of a commodity or service in a given market by a small number of companies or suppliers
Origin of oligopoly
olig(o)- + (mon)opolyoligopoly
ol·i·gop·o·ly
noun
Oligopoly is defined as an economic market where there is limited competition.
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.
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oligopoly
Webster's New World College Dictionary, Fifth Edition Copyright © 2014 by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
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oligopoly
noun
pl. ol·i·gop·o·liesA 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 of oligopoly
oligo- (mono)polyRelated Forms:
- ol′i·gop′o·lis′tic
adjective
THE AMERICAN HERITAGE® DICTIONARY OF THE ENGLISH LANGUAGE, FIFTH EDITION by the Editors of the American Heritage Dictionaries. Copyright © 2016, 2011 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
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Noun
(plural oligopolies)
- oligopolist, oligopolistic, oligopolistically, oligopolize
Origin
Derived, by analogy with monopoly, from Ancient Greek ὀλίγοι (oligoi, “few") + πωλÎω (pÅleÅ, “to sell"). From oligo- +"Ž -poly
English Wiktionary. Available under CC-BY-SA license.
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oligopoly - Investment & Finance Definition
A situation in which a few companies share control of the market for selling a good or service. Therefore, they are jointly able to exert a good deal of influence over consumer prices. Firms in an oligopoly situation have a great deal of interdependence, because if one firm changes its prices or competitive structure, it affects all members in the industry. The airline and tobacco industries are examples of oligopolies.
Webster's New World Finance and Investment Dictionary Copyright © 2010 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.
Used by arrangement with John Wiley & Sons, Inc.
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oligopoly - Legal Definition
n
An industry that is
dominated by a small number of companies that manufacture substantially
identical products. The American automobile industry and the tobacco industry
are two examples. An oligopoly is far less competitive than one with many
manufacturers, but slightly more competitive than a monopoly.
Webster's New World Law Dictionary Copyright © 2010 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.
Used by arrangement with John Wiley & Sons, Inc.
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