monopoly

[məˈnɒpəli]

monopoly Definition

• 1. the exclusive possession or control of the supply of or trade in a commodity or service
• 2. a 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

• control
• supremacy
• hegemony
• monopolization
• dominance

Antonyms for monopoly

• competition
• open market

Phrases with monopoly

• monopoly money

  play money used in the board game Monopoly

  Example

  We played Monopoly all night with fake money.

• monopoly power

  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.

• monopoly game

  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.