An Oligopoly is the act of participating in a monopoly with multiple companies. Behind closed doors the companies will usually agree not to compete with each other in certain regions of a country, state, or city. This can lead to the severe spike in prices without the need for compensation due to competition. This act, while royally fucking a consumer, can provide access to a previously illegal business practice with zero negative repercussions and an immunity to any legal action being taken against the companies in question.
Comcast : So Time Warner, You take New York, I'll take California, and AT&T can take Texas.
Verizon : This is looking to be the most corrupt Oligopoly to date!
Verizon : This is looking to be the most corrupt Oligopoly to date!
by DamnitAjit December 17, 2017
Get the Oligopoly mug.An Oligopoly is the parallel of a monopoly. Where a monopoly is a market dominated by one seller with little or no competition, oligopolys have many sellers competing for customers.
If left unchecked intime slowly grocery store will fade from an oligopoly to a monopoly thanks to Wal-Mart.
by Fouwlkan June 1, 2005
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What an oligopoly!
by kymcleod October 11, 2003
Get the oligopoly mug.Defined as a small group of companies that acts like a cartel to fix prices and stifle competition. Usually applies to gas stations and supermarkets, but can be applied to any industry with a small number of players.
When an independent gas station tried to start a price war with its major competitors, the oligopoly colluded to squeeze the smaller player out of business.
by BlastFurnace November 22, 2023
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