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Definitions from the Web

Ogilopoly

Definition:

Ogilopoly is a noun that refers to a market situation in which there are only a few dominant firms that control the majority of market share, creating limited competition and allowing these firms to dictate prices and conditions for consumers.

Senses:

1. A situation in an industry where a small number of companies have significant control over the market.
2. A condition in which a few powerful entities dominate a specific geographical area or region in terms of market share.

Examples:

Sense 1:

- The technology sector is often criticized for its ogilopoly, with a few major companies dominating the market and stifling competition.

- The telecommunications industry has been facing increasing scrutiny due to its ogilopoly, limiting choices for consumers and leading to higher prices.

Sense 2:

- The retail market in this small town is an ogilopoly, with just two major supermarket chains having control over the entire area.

- The local restaurant scene is dominated by an ogilopoly of a few established establishments, making it difficult for new businesses to enter the market.

Related Products:

• Monopoly Board Game
• Books on Market Competition