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Podcast: Word of the Day
Episode: Oligopoly
Description: Oligopoly is a state of limited competition.The root word of oligopoly, oligarch means a very rich business leader with a great deal of political influence. It comes from a Greek combination of words that mean ‘few’ and ‘to rule.’ When a condition in which few people rule has been reached, it can be called an oligopoly. Here’s an example:Tracy thinks an oligopoly wouldn’t be a bad thing necessarily. Her reasoning is that living in a world of limited competition would be great as long as that competition is between ice cream parlors she