Definitions from the Web
Duopoly
Definition:
A duopoly refers to a market situation in which only two companies dominate and control the supply of a particular product or service.
Examples:
Noun:
- The automobile industry is a duopoly, with two major companies capturing the majority of the market share.
- Apple and Google are fierce competitors in the smartphone market, forming a duopoly.
Adjective:
- In the duopoly market structure, the two dominant companies often engage in intense competition to gain an advantage over each other.
- The duopoly pricing strategy can sometimes lead to higher prices for consumers due to limited competition.
Verb:
- Small businesses often struggle to compete against large corporations that have established a duopoly in the market.
- Some companies attempt to break the duopoly by introducing innovative products or services.
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