Duopoly: meaning, definitions and examples

Etymology

• The word comes from Latin, combining 'duo' meaning 'two' and 'opoly' from Greek 'polein', meaning 'to sell'.
• First used in economic discussions in the early 20th century.

Economics

• In a duopoly, the two companies typically limit competition, which can lead to higher prices for consumers.
• The classic example is the competition between Coca-Cola and Pepsi in the soft drink market, where both fiercely guard their market space.
• Duopolies can lead to unique marketing strategies, as the companies often target each other's weaknesses.

Technology

• In the tech industry, companies like Apple and Samsung can be seen as a duopoly in the smartphone market.
• The emergence of cloud computing has created duopolistic conditions between Amazon Web Services and Microsoft Azure in cloud services.

Political Science

• Duopolies can occur in politics too, typically referring to two dominant political parties that control the political landscape.
• In the United States, the Republican and Democratic parties often represent a political duopoly, limiting third-party success.

Pop Culture

• Many movies and books explore themes of duopolies, showcasing two opposing forces or characters reflecting the idea.
• In the music industry, duopolies can emerge with two major record labels dominating the market, affecting which artists get promoted.

This word's position of #33,481 indicates it's among the more rare English words. While understanding it broadens your vocabulary, focus on more common words first.

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