OLIGOPOLY

oligopoly

(noun) (economics) a market in which control over the supply of a commodity is in the hands of a small number of producers and each one can influence prices and affect competitors

Source: WordNet® 3.1


Etymology

Noun

oligopoly (plural oligopolies)

An economic condition in which a small number of sellers exert control over the market of a commodity.

Source: Wiktionary



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Word of the Day

23 November 2024

THEORETICAL

(adjective) concerned primarily with theories or hypotheses rather than practical considerations; “theoretical science”


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Coffee Trivia

According to Guinness World Records, the largest iced coffee is 14,228.1 liters and was created by Caffé Bene (South Korea), in Yangju, South Korea, on 17 July 2014. They poured iced black Americano on the giant cup that measured 3.3 meters tall and 2.62 meters wide.

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