Duopoly
Pronunciation: /ˈduːoʊˌpɑːliː/
Duopoly (noun)
- A market where only two companies mainly control prices and supply, so competition is limited.
- A situation where two groups or firms have most of the power in an industry or service.
Examples
- A duopoly can limit choices for customers.
- In a duopoly, two companies often set the prices.