(economics) a market situation in which control over the supply of a commodity is held by a small number of producers each of whom is able to influence prices and thus directly affect the position of competitors
Derived Forms
oligopolistic, adjective
Word Origin
C20: from oligo- + Greek pōlein to sell, on the model of monopoly
Word Origin and History for oligopoly
n.
1887, from Medieval Latin oligopolium, from Greek oligos "little, small," in plural, "the few" (see oligo-) + polein "to sell" (see monopoly).
oligopoly in Culture
oligopoly [(ol-i-gop-uh-lee, oh-li-gop-uh-lee)]
Control over the production and sale of a product or service by a few companies.