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English definition of “oligopoly”

oligopoly

noun [C or U]     /ˌɒliˈɡɒpəli/ (plural oligopolies)
ECONOMICS a situation in which only a small number of companies are involved in producing a particular type of goods or in providing a particular type of service. The group of companies itself is also referred to as an oligopoly: Some say that Swedish banking is an oligopoly: the big four banks control 89% of total banking assets. → Compare monopoly
(Definition of oligopoly noun from the Cambridge Business English Dictionary © Cambridge University Press)
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