duopoly Definition
a situation in which two companies or organizations have complete control of a particular market or industry.
Using duopoly: Examples
Take a moment to familiarize yourself with how "duopoly" can be used in various situations through the following examples!
Example
The airline industry is dominated by a duopoly of two major carriers.
Example
The soft drink industry is a classic example of a duopoly.
Example
The telecommunications industry is controlled by a duopoly of two major players.
duopoly Synonyms and Antonyms
Phrases with duopoly
a situation in which two media companies dominate the market and control the majority of the audience and advertising revenue
Example
The media duopoly of Fox News and CNN has been criticized for their biased coverage.
a situation in which two political parties dominate the electoral process and hold most of the political power
Example
The United States is often criticized for its political duopoly of the Democratic and Republican parties.
duopoly pricing
a pricing strategy used by two dominant firms in a market to maximize their profits by colluding to set high prices
Example
The two major airlines engaged in duopoly pricing, resulting in high ticket prices for consumers.
Summary: duopoly in Brief
The term 'duopoly' [d(y)o͞oˈäpəlē] refers to a market situation where two companies or organizations have complete control over an industry. It is characterized by domination, control, and hegemony, as seen in the airline, soft drink, and telecommunications industries. 'Duopoly' extends into phrases like 'media duopoly,' 'political duopoly,' and 'duopoly pricing,' which describe situations where two entities dominate a particular field.
