noun
oligopoly
ol-ih-GOP-uh-lee
Oligopoly (noun) means a market condition in which a small number of sellers have control over the supply of a product. Example: “The supermarket trade is close to an oligopoly.”
noun
1
economics A market condition in which a small number of sellers have control over the supply of a product.
"The supermarket trade is close to an oligopoly."
"Economists worry that an oligopoly can keep prices high."
"Only a handful of firms make up the oligopoly in this industry."
How to use oligopoly
Learner’s notesIn plain EnglishA market run by just a few sellers.
When to use it
It is a technical term from economics, also used in business journalism.
Easily confused with
Common pairings
a tight oligopoly
form an oligopoly
oligopoly pricing
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The supermarket trade is close to an _____.
Etymology
Oligopoly was formed in English from the prefix oligo-, meaning few, and -poly, an ending used for how many sellers a market has. It was modelled on monopoly.
Rhymes for oligopoly
See all rhymes for oligopoly →Frequently asked questions
What is an oligopoly?
An oligopoly is a market in which a small number of sellers control the supply of a product.
How is an oligopoly different from a monopoly?
A monopoly has a single seller, while an oligopoly has a few.
What is the plural of oligopoly?
The plural is oligopolies.
What is the meaning of oligopoly?
"oligopoly" (noun) means a market condition in which a small number of sellers have control over the supply of a product.
