Oligopoly
/ˌɒl.ɪˈɡɒp.ə.li/noun
A market structure in which a small number of firms dominate an industry.
Did you know?Oligopoly is built from Greek roots meaning “few” and “to sell,” so the modern economy borrowed an ancient language of scarcity to name concentrated power.
Etymological Timeline
Ancient Greek
Greek
ὀλίγος (olígos)
“few, small in number”
Ancient Greek
Greek
πωλεῖν (pōleîn)
“to sell”
Modern English
English
oligopoly
“a market controlled by a small number of sellers”
20th Century
English
oligopoly
“economics term for a market dominated by a few firms”