oligopoly
- A situation where few sellers control a significant portion of a market, hindering competitive forces from other participants
- The technology industry has been criticized for being an oligopoly, with very few companies controlling the entire market.
- Critics argue that the airline industry operates as an oligopoly because only a handful of companies dominate the market.
- 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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