oligopoly
/ˌɑːlɪˈɡɑːpəli/
noun
- A market situation in which a small number of large companies control most of the supply and sales of a product or service.
- The smartphone operating system market is an oligopoly dominated by Google and Apple.
- In an oligopoly, companies often watch each other's prices closely.
- The government investigated whether the oligopoly of cereal makers was unfairly raising prices.