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oligopoly

   Also found in: Dictionary/thesaurus, Legal, Encyclopedia, Wikipedia, Hutchinson 0.06 sec.
Oligopoly
When a particular market is controlled by a small group of firms.

Notes:
A monopoly is when only one company exerts control over most of a market. An oligopoly is similar except that there are at least two firms.

The retail gas market is a good example of oligopoly, there are a small number of firms that control a large majority of the market.

Oligopoly
A Market characterized by a small number of producers who often act together to control the supply of a particular good and its market price.
oligopoly
A market in which a limited number of sellers follow the lead of a single major firm. For example, the domestic automobile market was long characterized as an oligopoly, with American Motors, Chrysler, and Ford following the pricing lead of industry giant General Motors. Compare monopoly, oligopsony.
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