oligopoly
UK[ˌɒlɪˈɡɒpəli]US[ˌɑːlɪˈɡɑːpəli]
n
a state of limited competition in which a market is controlled by a small number of producers or sellers.
n
a market or industry characterized by such a state.
Morpheme Breakdown
oligo
poly
oligo
few
poly
seller
Etymology
the term 'oligopoly' is a modern english formation, coined in the early 20th century by combining two greek roots. the first element, 'oligo-', derives from the greek adjective 'oligos', which signifies a small number or quantity. the second element, '-poly', originates from the greek verb 'pōlein', meaning 'to sell'. thus, the word's literal construction translates to 'few sellers'. this directly and logically names the economic condition where a market is dominated by a limited number of vendors, contrasting with a monopoly (one seller) and perfect competition (many sellers). the adoption of classical roots follows a common pattern in academic and technical vocabulary to create precise, internationally recognizable terms.
Analysis
Structure: oligo (few) + poly (seller)
oligo - from greek 'oligos', meaning 'few, small, little'. poly - from greek 'pōlein', meaning 'to sell'.
Examples
the telecommunications industry is often cited as a classic example of an oligopoly.
economists study how firms in an oligopoly may collude to set prices.
new regulations were introduced to prevent the market from becoming an oligopoly.