This refers to there only being two suppliers available to provide a specific good or service to customers.
An example of a duopoly is Airbus and Boeing dominating the aircraft manufacturing industry. Like oligopolies, duopolies share many of the disadvantages of monopolies, limited consumer choice or influence and limited supplier motivation for resource efficiency; however there can be price and brand differentiation within a duopoly which provides limited consumer choice. There is sometimes perceived to be a greater risk of collusion between two companies dominating the market than there might be with a larger number of suppliers.
Duopoly is a term normally found in business economics and financial management.
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