A.Word.A.Day --oligopoly

A.Word.A.Day

About | Media | Search | Contact

Home

Today's Word

Yesterday's Word

oligopoly

PRONUNCIATION:

(ol-i-GOP-uh-lee)

MEANING:

noun: A market condition where there are few sellers.

ETYMOLOGY:

From Greek oligo- (few) + -poly, patterned after monopoly, from polein (to sell).

NOTES:

Here's a little chart that explains it all:

monopoly:	one seller, many buyers
duopoly:	two sellers, many buyers
oligopoly:	a few sellers, many buyers

monopsony:	one buyer, many sellers
duopsony:	two buyers, many sellers
oligopsony:	a few buyers, many sellers
From Greek opsonia (purchase).

USAGE:

"The country's fair trade regulator suggested Sunday that the long-standing oligopoly of a few gas companies should be phased out by allowing new providers to compete in the market."
Jane Han; Gas Monopoly Must Be Dissolved; The Korea Times (Seoul); Jan 3, 2009.

See more usage examples of oligopoly in Vocabulary.com's dictionary.

A THOUGHT FOR TODAY:

Old age deprives the intelligent man only of qualities useless to wisdom. -Joseph Joubert, essayist (1754-1824)

We need your help

Help us continue to spread the magic of words to readers everywhere

Donate

Subscriber Services
Awards | Stats | Links | Privacy Policy
Contribute | Advertise