- the market condition that exists when there are few sellers, as a result of which they can greatly influence price and other market factors.Compare duopoly, monopoly(def 1).
noun plural -lies
- 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
n.1887, from Medieval Latin oligopolium, from Greek oligos “little, small,” in plural, “the few” (see oligo-) + polein “to sell” (see monopoly). Control over the production and sale of a product or service by a few companies.