oligopoly
Meaning: A market structure in which a small number of firms dominate the industry, often resulting in limited competition and similar pricing.
In an oligopoly, a few large companies control the market, making it difficult for new entrants to compete. Unlike a monopoly, there is some competition, but the dominant firms often engage in similar pricing strategies. Examples include the supermarket, airline, and mobile phone industries. The adjective form is 'oligopolistic.'
Examples
- The mobile phone industry in the UK is often described as an oligopoly, with four major providers. 英国的移动电话行业通常被描述为寡头垄断,有四大主要运营商。El sector de la telefonía móvil en el Reino Unido se describe a menudo como un oligopolio con cuatro grandes operadores.英国の携帯電話業界は、4大プロバイダーによる寡占としてしばしば形容される。영국의 휴대전화 산업은 4대 통신사에 의한 과점으로 흔히 묘사된다.
- Oligopolistic markets tend to produce less innovation than competitive ones. 寡头垄断市场与竞争市场相比,往往产生较少的创新。Los mercados oligopolísticos tienden a generar menos innovación que los competitivos.寡占市場は競争的な市場に比べてイノベーションが少ない傾向がある。과점 시장은 경쟁 시장에 비해 혁신이 적은 경향이 있다.
- The energy sector has been criticised for behaving like an oligopoly, with prices moving in lockstep. 能源部门因表现得像寡头垄断而受到批评,价格步调一致地变动。El sector energético ha sido criticado por comportarse como un oligopolio, con precios que se mueven al unísono.エネルギー部門は、価格が足並みを揃えて動く寡占のように振る舞っていると批判されてきた。에너지 부문은 가격이 일제히 움직이는 과점처럼 행동한다는 비판을 받아왔다.
Pronunciation
Usage Guide
Context: academic, professional
Tone: neutral
Origin & History
From Greek oligos (few, small) + polein (to sell), modelled on monopoly. First used in English in the late 19th century.
Cultural Context
Era: Modern
Generation: All ages
Social background: Universal
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