Duopoly: meaning, definitions and examples
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duopoly
[ djuหหษpษli ]
economic competition
A duopoly is a market structure dominated by two firms, where each firm has significant control over the market. This situation creates a competitive environment, often leading to outcomes that can benefit consumers or, conversely, reduce market efficiency due to limited competition.
Synonyms
bipoly, dual monopoly.
Examples of usage
- The smartphone industry is often considered a duopoly, primarily between Apple and Samsung.
- In a duopoly, the actions of one firm can have a direct impact on the other firm's strategies.
- Regulators monitor duopolies closely to prevent anti-competitive behaviors.
Translations
Translations of the word "duopoly" in other languages:
๐ต๐น duopรณlio
๐ฎ๐ณ เคฆเฅเคตเคฟเคชเคเฅเคทเฅเคฏเคคเคพ
๐ฉ๐ช Duopol
๐ฎ๐ฉ duopoli
๐บ๐ฆ ะดัะฟะพะปัั
๐ต๐ฑ duopol
๐ฏ๐ต ใใฅใชใใชใผ
๐ซ๐ท duopole
๐ช๐ธ duopolio
๐น๐ท duopol
๐ฐ๐ท ๋์คํด๋ฆฌ
๐ธ๐ฆ ุซูุงุฆูุฉ
๐จ๐ฟ duopol
๐ธ๐ฐ duopol
๐จ๐ณ ๅๅคดๅๆญ
๐ธ๐ฎ duopol
๐ฎ๐ธ duopol
๐ฐ๐ฟ ะดัะฟะพะปะธั
๐ฌ๐ช แแฃแแแแแ
๐ฆ๐ฟ duopol
๐ฒ๐ฝ duopolio
Etymology
The term 'duopoly' is derived from the combination of the prefix 'duo-', meaning 'two', and the suffix '-poly', which comes from the Greek word 'polein', meaning 'to sell'. The concept emerged from economic theories that analyze market structures and competition. The use of 'duopoly' in economics became more prominent in the early 20th century as economists began to distinguish between different types of market control. The term is extensively used in textbooks and academic discussions to illustrate scenarios where only two companies dominate a market, impacting pricing and supply dynamics. The implications of a duopoly are crucial in understanding market behavior, especially in industries such as telecommunications, airlines, and technology, wherein two companies may have substantial influence over overall market conditions.