Definition

A person or company that is part of a market where a few sellers control the prices and supply of goods or services.

Example

The oligopolist raised prices, knowing that the competition was limited.

Conversation

Have you heard about the new company that just became an oligopolist in the tech market?

Yeah, it's crazy how a few companies can control so much of the industry.

I wonder how that affects the prices for consumers.

It definitely gives them more power to set prices however they want.

Synonyms & Antonyms

Root Explanation

Oligopolist → It is formed from "oligo-" (from Greek "oligos", meaning few) and "polein" (meaning to sell). An oligopolist is someone who sells in a market dominated by a few sellers.

Memory Tip

Think of 'few' ('oligo-') sellers in a market — that's what an oligopolist is, someone who operates in a market with only a few competitors.

Visually Confused Words