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Vocabulary Builder — Essay & Answer Writing

oligopoly

noun / ol-i-GOP-uh-lee / Medium
Meaning

A market dominated by a small number of large sellers, whose decisions on price and output are interdependent.

Origin / Etymology

From Greek 'oligoi' (few) and 'polein' (to sell).

Synonyms
market concentration duopoly few sellers dominant bloc
Antonyms
perfect competition monopoly fragmentation open market
Example Sentence
"The telecom sector had consolidated into an oligopoly of three private players after years of tariff wars."
🎯 UPSC Usage

Relevant to GS Paper 3 on market structures and competition policy. Use it to analyse concentration in telecom, aviation, and digital platforms, and the role of the Competition Commission of India in preventing abuse of dominance and predatory pricing.

Relevant Subjects
Economy
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