Definition, Meaning & Synonyms
duopoly
noun
/djuːˈɒp.ə.li/
Definition
A market structure where two companies or entities dominate the market.
Examples
- In the tech industry, the duopoly of Company A and Company B has led to limited choices for consumers.
- The oil market often faces a duopoly between the two leading producers, significantly affecting global prices.
- Duopolies can stifle competition, as the two dominant players may engage in collusion to set prices.
Meaning
A duopoly exists when two firms hold a significant share of the market, influencing prices and competition.
Synonyms
- oligopoly
- monopoly (in a broader context)
- duopole
