monopoly

[məˈnɒpəli]

monopoly Definition

  • 1the exclusive possession or control of the supply of or trade in a commodity or service
  • 2a company or group having exclusive control over a commodity or service

Using monopoly: Examples

Take a moment to familiarize yourself with how "monopoly" can be used in various situations through the following examples!

  • Example

    The company has a monopoly on the production of this medicine.

  • Example

    The government is trying to prevent the formation of monopolies.

  • Example

    The telecommunications industry is dominated by a few large monopolies.

monopoly Synonyms and Antonyms

Synonyms for monopoly

Antonyms for monopoly

Phrases with monopoly

  • play money used in the board game Monopoly

    Example

    We played Monopoly all night with fake money.

  • the ability of a company or group to control the supply of or trade in a commodity or service

    Example

    The government is investigating the company for its monopoly power in the market.

  • a board game in which players buy and develop properties, charging rent when other players land on them

    Example

    We had a lot of fun playing Monopoly with our friends.

Origins of monopoly

from Greek 'monos' meaning 'alone' and 'polein' meaning 'to sell'

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Summary: monopoly in Brief

The term 'monopoly' [məˈnɒpəli] refers to the exclusive possession or control of a commodity or service by a company or group. It can be used to describe a situation where there is no competition, exemplified by 'The company has a monopoly on the production of this medicine.' 'Monopoly' extends into phrases like 'monopoly money,' and 'monopoly power,' denoting the ability to control the supply of a commodity or service.