Exam: GRE (Verbal)

Definition: A situation in a market where a small number of companies control most of the supply, so that the decisions of one company can influence prices and competition.

Example: In an oligopoly, a few large firms dominate the market, making it difficult for new competitors to enter.

Definition: Relating to a market situation where a small number of buyers have significant control over the market, affecting prices and supply.

Example: In an oligopsonistic market, a few large companies dominate the purchasing power, influencing the prices of goods.

Definition: A market situation where there are only a few buyers, and their decisions can significantly impact prices and costs in the market.

Example: In an oligopsony, the limited number of buyers can dictate terms to suppliers.

Definition: A type of carbohydrate made up of a few simple sugars linked together.

Example: Oligosaccharides are found in many plants and can be beneficial for digestion.

Definition: Describing a body of water that has low levels of nutrients and high levels of dissolved oxygen, often resulting in clear water and limited plant growth.

Example: The oligotrophic lake is known for its crystal-clear waters and healthy fish population.

Definition: A condition where a person produces less urine than normal.

Example: The doctor diagnosed her with oliguria after noticing her reduced urine output.

Definition: Having a shape that resembles an olive, typically used to describe certain anatomical structures or objects.

Example: The olivary nucleus is an important part of the brainstem.

Definition: A person who specializes in a particular branch of science or knowledge, often indicated by the suffix 'ology'.

Example: An ologist studies various aspects of their specific field, such as biology or geology.

Definition: A person who looks into complaints and helps resolve issues, often acting as a mediator between individuals and organizations.

Example: The ombudsman helped the students resolve their issues with the university administration.

Definition: The role or position of a person who investigates complaints and helps resolve issues, often in an organization or government.

Example: She was appointed to the ombudsmanship to address employee grievances.