Oligopoly
noun
A market structure dominated by a small number of large firms, where these firms have significant market power and can influence prices and decisions.
The smartphone industry is often considered an oligopoly due to the dominance of a few major companies.
Usage tips
Neutral
market oligopoly,oligopoly power,oligopoly price
noun
A few companies controlling a market together, leading to limited competition.
The airline industry is an example of an oligopoly, where only a few carriers dominate the market.
Usage tips
Neutral
oligopolistic firms,oligopolistic market,collusive oligopoly
noun
A market structure dominated by a small number of large firms, where these firms have significant market power and can influence prices and decisions.
The smartphone industry is often considered an oligopoly due to the dominance of a few major companies.
Usage tips
Neutral
market oligopoly,oligopoly power,oligopoly price
noun
A few companies controlling a market together, leading to limited competition.
The airline industry is an example of an oligopoly, where only a few carriers dominate the market.
Usage tips
Neutral
oligopolistic firms,oligopolistic market,collusive oligopoly
Definition 1 of 2
Pro Tip 1/3Contextual Understanding
Understanding how oligopolies can impact pricing is crucial in economics.
In oligopolistic markets, a few firms can dictate prices and limit competition.
Pro Tip 2/3Use in Economic Discussions
Recognizing oligopoly as a market structure often comes up in economic studies.
When analyzing the smartphone market, discussing oligopoly is essential.
Pro Tip 3/3Cultural Connotations
Oligopolies can be viewed negatively for restricting competition, be aware of this when discussing.
In debates about fair market practices, the term oligopoly carries a certain weight.
Pro Tip 1/3Contextual Understanding
Understanding how oligopolies can impact pricing is crucial in economics.
In oligopolistic markets, a few firms can dictate prices and limit competition.
Pro Tip 2/3Use in Economic Discussions
Recognizing oligopoly as a market structure often comes up in economic studies.
When analyzing the smartphone market, discussing oligopoly is essential.
Pro Tip 3/3Cultural Connotations
Oligopolies can be viewed negatively for restricting competition, be aware of this when discussing.
In debates about fair market practices, the term oligopoly carries a certain weight.
Pro Tip 1/3Contextual Understanding
Understanding how oligopolies can impact pricing is crucial in economics.
In oligopolistic markets, a few firms can dictate prices and limit competition.
Pro Tip 2/3Use in Economic Discussions
Recognizing oligopoly as a market structure often comes up in economic studies.
When analyzing the smartphone market, discussing oligopoly is essential.
Pro Tip 3/3Cultural Connotations
Oligopolies can be viewed negatively for restricting competition, be aware of this when discussing.
In debates about fair market practices, the term oligopoly carries a certain weight.
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