How Do You Spell DUOPOLY?

Pronunciation: [djuːˈɒpəli] (IPA)

Duopoly is a term used to describe a market structure in which only two firms dominate the market. The word is spelled as /djuːˈɒp.ə.li/ in IPA phonetic transcription. The first syllable is pronounced as "dju," which sounds like the word "dew." The letter "o" is pronounced like the vowel in "lot." Finally, the stress is placed on the third syllable "li." Duopoly can be found in a variety of industries, including telecommunications, aviation, and media. It's important to note that duopoly can create barriers to entry for new firms, limiting competition in the market.

Meaning and Definition
Common Misspellings
Etymology
Similar spelling words
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DUOPOLY Meaning and Definition

  1. A duopoly refers to a market structure characterized by the presence of two dominant companies that hold a substantial share of the market, resulting in significant control over market conditions, prices, and overall supply and demand dynamics. It is a subset of oligopoly, a market structure where a few dominant firms dominate the industry.

    In a duopoly, the two firms hold a relatively equal level of market power and often engage in intense competition to secure a larger market share. These firms can produce identical or differentiated products, and there is typically a high level of interdependence between them. Due to their substantial market control, the actions of one firm significantly impact the actions and strategies of the other. This interdependency often leads to strategic decision-making, where each firm anticipates and reacts to the choices made by its competitor.

    Duopolies can arise from various factors, such as legal barriers that restrict new entrants, high costs involved in establishing new operations, economies of scale enjoyed by existing firms, or intense competition stifling the growth of new competitors.

    Government regulations may closely monitor duopolies and take steps to prevent collusion, price-fixing, or other anti-competitive practices that could harm consumers and other rival firms. The dynamics of a duopoly market can be complex, and understanding the strategies and behaviors of the two dominant firms is crucial for economists, policymakers, and market participants seeking to analyze and navigate this specific market structure.

Common Misspellings for DUOPOLY

Etymology of DUOPOLY

The word "duopoly" originated from the combination of two Greek roots: "duo", meaning "two", and "poly", meaning "selling". The term was first recorded in English in the early 19th century and is typically used to describe a market structure where there are only two dominant firms or entities.

Similar spelling words for DUOPOLY

Plural form of DUOPOLY is DUOPOLIES

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Correct spelling for duopoly
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