Duopoly (noun)

A market situation in which only two companies or entities control the majority of the market share for a particular product or service.

Origin:

The word duopoly comes from the greek words "duo" meaning "two" and "polein" meaning "to sell" .it refers to a market situation in which only two companies or entities control the majority of the market share for a particular product or service.

Examples:

1. The duopoly of the oil industry was dominated by only two major companies.
2. The market for mobile phone services was a duopoly, with only two major players.
3. The airline industry was a duopoly, with only two major airlines controlling the majority of the market.
4. The duopoly of the two companies caused prices to remain high.
5. The duopoly in the market made it difficult for new companies to enter the market.