1. Market conditions in which a small number of large firms dominate the production and sale of a product or service.
Usage: Plural of oligopoly; Economics term; Countable noun

Examples

• Many oligopolies exist in the telecommunications industry, where just a few companies control most of the market.
• The automotive industry is characterized by several oligopolies dominated by major manufacturers.
• Oligopolies can lead to higher prices because there is less competition among firms.
• Tech oligopolies have raised concerns about market power and consumer choice.
• Governments sometimes regulate oligopolies to prevent unfair business practices.
• Airlines operate in oligopolies on many routes, with only a handful of carriers serving each market.