Definitions for oligopoly
ˌɒl ɪˈgɒp ə lioli·gop·o·ly

Princeton's WordNetRate this definition:0.0 / 0 votes

1. oligopolynoun

   (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

WiktionaryRate this definition:0.0 / 0 votes

1. oligopolynoun

   An economic condition in which a small number of sellers exert control over the market of a commodity.

2. Etymology: Derived, by analogy with monopoly, from the Greek ὀλίγοι + πωλειν.

WikipediaRate this definition:0.0 / 0 votes

1. Oligopoly

   An oligopoly (from Greek ὀλίγος, oligos "few" and πωλεῖν, polein "to sell") is a market structure in which a market or industry is dominated by a small number of large sellers or producers. Oligopolies often result from the desire to maximize profits, which can lead to collusion between companies. This reduces competition, increases prices for consumers, and lowers wages for employees. Many industries have been cited as oligopolistic, including civil aviation, electricity providers, the telecommunications sector, Rail freight markets, food processing, funeral services, sugar refining, beer making, pulp and paper making, and automobile manufacturing. Most countries have laws outlawing anti-competitive behavior. EU competition law prohibits anti-competitive practices such as price-fixing and manipulating market supply and trade among competitors. In the US, the United States Department of Justice Antitrust Division and the Federal Trade Commission are tasked with stopping collusion. However, corporations can evade legal consequences through tacit collusion, as collusion can only be proven through actual and direct communication between companies. It is possible for oligopolies to develop without collusion and in the presence of fierce competition among market participants. This is a situation similar to perfect competition, where oligopolists have their own market structure. In this situation, each company in the oligopoly has a large share in the industry and plays a pivotal, unique role. With post-socialist economies, oligopolies may be particularly pronounced. For example in Armenia, where business elites enjoy oligopoly, 19% of the whole economy is monopolized (BEEPS 2009 database), making it the most monopolized country in the region.

ChatGPTRate this definition:0.0 / 0 votes

1. oligopoly

   An oligopoly is an economic market structure characterized by a small number of large firms dominating the industry. These firms have the power to influence market price and decisions due to minimal competition. While not having absolute control like a monopoly, they typically maintain their powerful positions through barriers to entry, such as high startup costs or proprietary technology.

WikidataRate this definition:0.0 / 0 votes

1. Oligopoly

   An oligopoly is a market form in which a market or industry is dominated by a small number of sellers. Oligopolies can result from various forms of collusion which reduce competition and lead to higher costs for consumers. Alternatively, oligopolies can see fierce competition because competitors can realize large gains and losses at each other's expense. In such oligopolies, outcomes for consumers can often be favorable. Because there are few sellers, each oligopolist is likely to be aware of the actions of the others. The decisions of one firm influence and are influenced by the decisions of other firms. Strategic planning by oligopolists needs to take into account the likely responses of the other market participants.

Matched Categories

1. • Economics
   • Market

How to pronounce oligopoly?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say oligopoly in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of oligopoly in Chaldean Numerology is: 4

2. Pythagorean Numerology

   The numerical value of oligopoly in Pythagorean Numerology is: 9

Examples of oligopoly in a Sentence

1. Mark Levin:

   She’s the spokesperson for the President of the United States, her words represent that of the administration, the executive branch of the federal government … She's sending a message out there to the rest of Silicon Valley and the rest of the social platform oligopoly and billionaires to do the same thing as Facebook.

2. Patrick McHenry:

   What I see here is an oligopoly. Right ? The three of you not really competing, and the consumers are the ones who are losing out.

3. Stuart Theobald:

   It's an amazing story of how some retailers and farmers managed to break into South Africa's banking oligopoly, where very few had succeeded historically.

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References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=oligopoly
2. ^ Wiktionary
   https://en.wiktionary.org/wiki/Oligopoly
3. ^ Wikipedia
   https://en.wikipedia.org/wiki/Oligopoly
4. ^ ChatGPT
   https://chat.openai.com
5. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=oligopoly