oligopoly oligopoly  /ˌɑ lɪ ˈɡɑ pə li/

Definition(s):

  • (n) (economics) a market in which control over the supply of a commodity is in the hands of a small number of producers and each one can influence prices and affect competitors

Usage(s):

  1. Indeed, Ahmadinejad has failed in the one area where he actually does have some authority: reforming the sluggish oligopoly that is the Iranian domestic economy.
  2. Maybe, just maybe, we would be better off with a heavily regulated, highly profitable oligopoly of large financial institutions.
  3. Each of these major industries settled into a oligopoly, with a few very large players.

News

Quotes

  1. "It is a bad idea. ...... It will create an oligopoly and it's against humanity," Edgardo Angara, chairman of the Philippine Senate's Committee on Agriculture, said Friday, adding that the cartel could price the grain out of reach for...
    on May 5, 2008 By: Edgardo Angara Source: CNN

  2. "This reform will hopefully incent participants in this oligopoly to police one another and release reliable, high quality ratings," Kanjorski said in support of the provision. "This reform, however, is not the only way to fix this problem,...
    on Sep 30, 2009 By: Paul Kanjorski Source: National Underwriter Life and Health Insurance News

  3. "All (of them) have the characteristic symptoms of acting as an oligopoly," said McTeague, a market condition where there are so few sellers that the actions of any one of them will affect prices and hurt competitors.
    on Sep 13, 2005 By: Dan McTeague Source: CTV.ca

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