説明中心

oligopoly

[ˌɑːlɪˈɡɑːpəli]

oligopoly Definition

a market situation in which a small number of companies or suppliers control all or most of the market for a particular product or service.

Using oligopoly: Examples

Take a moment to familiarize yourself with how "oligopoly" can be used in various situations through the following examples!

  • Example

    The telecommunications industry is an oligopoly, with only a few major players controlling the market.

  • Example

    The airline industry is dominated by an oligopoly of major carriers.

  • Example

    The automobile industry is characterized by an oligopoly of large multinational corporations.

oligopoly Synonyms and Antonyms

Synonyms for oligopoly

Phrases with oligopoly

  • the ability of a small number of companies to control prices and output in a particular market

    Example

    The government has been investigating allegations of oligopoly power in the pharmaceutical industry.

  • oligopoly pricing

    the practice of a small number of companies agreeing to set prices at a certain level in order to maximize profits

    Example

    The company was fined for engaging in oligopoly pricing with its competitors.

  • a market in which a small number of companies control all or most of the supply of a particular product or service

    Example

    The energy sector is an example of an oligopoly market, with a few large companies dominating the industry.

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Summary: oligopoly in Brief

The term 'oligopoly' [ˌɑːlɪˈɡɑːpəli] refers to a market situation where a small number of companies or suppliers control most or all of the market for a particular product or service. It is characterized by a lack of competition and the ability of these companies to control prices and output. Examples include the telecommunications, airline, and automobile industries.

How do native speakers use this expression?