oligopoly
noun/ˌɑlɪˈɡɑpəli/
Frequency rank: #19,494 of 20,003 in the WORDED list (wordfreq data)
Meaning
A market structure in which a small number of large firms dominate an industry.
Example sentence
When only three companies control the entire smartphone market, economists describe that situation as a classic oligopoly.
Synonyms & related words
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