oligopoly
Say it: ol-ih-GOP-uh-lee /ˌɑlɪˈɡɑpəli/ · noun
What “oligopoly” means
A market dominated by a few large companies.
More precisely: A market controlled by a small number of large companies.
Example: “The country's grocery sector is an oligopoly: four chains sell most of the food.”
When to use it
In economics or business discussions, when a handful of large companies dominate sales in a particular market.
Similar words
concentrated market, near-monopoly
Where it comes from
From Greek oligos, "few," plus pōlein, "to sell."
Quick check
Three huge companies sell almost all the country's mobile phone services, leaving little room for smaller rivals. That's…
an oligopoly or a monopoly?
Show the answer
an oligopoly
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