Definition

Describing a market or industry that is controlled by a small number of companies, leading to limited competition.

Example

The telecommunications industry is often considered oligopolistic due to the few major players that dominate the market.

Conversation

Have you heard about the new study on the tech industry?

Yeah, I read that it’s becoming quite oligopolistic lately.

Right? It’s surprising how a few companies dominate the market.

Exactly! It makes competition really tough for new startups.

Synonyms & Antonyms

Root Explanation

Oligopolistic → It is formed from "oligo-" (from Greek "oligos", meaning few) and "polistic" (from Greek "polein", meaning to sell). The term describes a market structure characterized by a few sellers or producers dominating the market.

Memory Tip

Think of 'few' ('oligo-') sellers in a market who 'sell' ('polein') their products — that's what oligopolistic means.

Visually Confused Words