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The meaning of MONOPOLY is exclusive ownership through legal privilege, command of supply, or concerted action. How to use monopoly in a sentence. Did you know?
(an organization or group that has) complete control of something, especially an area of business, so that others have no share: The government is determined to protect its tobacco monopoly. Is Microsoft a monopoly? The drafting of a new constitution cannot be a monopoly of the white minority regime (= other people should do it too).
A monopoly is a market structure with a single seller or producer that assumes a dominant position in an industry or a sector. Monopolies are discouraged in free-market economies because...
exclusive control of a commodity or service in a particular market, or a control that makes possible the manipulation of prices. Compare duopoly, oligopoly. an exclusive privilege to carry on a business, traffic, or service, granted by a government. the exclusive possession or control of something. something that is the subject of such control ...
A monopoly implies an exclusive possession of a market by a supplier of a product for which there is no substitute. In perfect competition, a large number of small sellers supply a homogeneous product to a common buying market.
A monopoly (from Greek μόνος, mónos, 'single, alone' and πωλεῖν, pōleîn, 'to sell'), as described by Irving Fisher, is a market with the "absence of competition", creating a situation where a specific person or enterprise is the only supplier of a particular thing.
MONOPOLY meaning: 1 : complete control of the entire supply of goods or of a service in a certain area or market; 2 : a large company that has a monopoly.
monopoly (in/of/on something) (business) the complete control of trade in particular goods or the supply of a particular service; a type of goods or a service that is controlled in this way. In the past central government had a monopoly on television broadcasting.
A Monopoly is a supplier of a product or service that has no competitors – it is the sole provider in a market. Some people also include a market with just two or three suppliers – but that is not a ‘pure monopoly’.
The exclusive possession or control of the trade in a commodity, product, or service; the condition of having no competitor in one's trade or business. Also: an instance of this. In English Law: a situation in which one supplier or producer controls more than a specified fraction of the market. 1534.