Definition of "oligopoly"
  1. A situation where few sellers control a significant portion of a market, hindering competitive forces from other participants
How to use "oligopoly" in a sentence
  1. The technology industry has been criticized for being an oligopoly, with very few companies controlling the entire market.
  2. Critics argue that the airline industry operates as an oligopoly because only a handful of companies dominate the market.
  3. Despite numerous players in the market, the dominance of a few leading companies has transformed the smartphone industry into an oligopoly.

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