duopoly

noun

1. (countable, uncountable)An economic condition in which two sellers exert most control over the market of a commodity.

   “Modern examples of duopoly include the American markets for credit cards (Visa and MasterCard), smartphones (Apple and Google), soft drinks (Coca-Cola and Pepsi), and airplanes (Airbus and Boeing).”

2. (broadly, countable, uncountable)The domination of a field of endeavour by two entities or people.

   “In 2011, his spirit and body were shattered by Jo-Wilfried Tsonga in the semi-finals. Last night, the stakes were just as high – even though the tournament is not out of the first week – because there is a creeping perception that the [Roger] Federer–[Rafael] Nadal duopoly is slowly giving way under pressure from below.”

   “In Spain, Socialist and PP governments have alternated since the 1980s. This cosy duopoly was weakened by the long recession that followed the bursting of Spain’s housing bubble in 2007.”

   “First past the post voting has long maintained American politics as an effective duopoly where power simply alternates between two main parties.”

3. (broadly, countable, uncountable)A situation in which two or more radio or television stations in the same city or community share common ownership.