oligopoly
noun/ˌɒlɪˈɡɒpəli/
/ˌɑːlɪˈɡɑːpəli/, /ˌəʊlɪˈɡɑːpəli/
(plural oligopolies)
(business)- a market in which there are only a few companies producing or selling a product or service. This can result in less competition and higher prices for customers.
- Due to oligopolies and reduced competition, Americans pay far more for internet than the rest of the world.
- The three main companies have been operating as an oligopoly to maintain their dominance in the market.
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oligopoly