- An example of monopoly is when one company is the only provider of phone service in the area.
- An example of monopoly is when you say a cat is the only pet that can be aloof.
- An example of monopoly is the phone company who is the only provider of phone service in an area.
- An example of Monopoly is a board game.
- exclusive control of a commodity or service in a given market, or control that makes possible the fixing of prices and the virtual elimination of free competition
- an exclusive privilege of engaging in a particular business or providing a service, granted by a ruler or by the state
- any exclusive possession or control regarded as resembling this: Dad's monopoly over the TV remote control
- something that is held or controlled as a monopoly
- a company or combination that has a monopoly
Origin of monopolyClassical Latin monopolium from Classical Greek monop?lion, right of exclusive sale, monop?lia, exclusive sale from monos, single (see mono-) + p?lein, to sell from Indo-European base an unverified form pel- from source Lithuanian pe?nas, wages
- Exclusive control by one group of the means of producing or selling a commodity or service: “Monopoly frequently … arises from government support or from collusive agreements among individuals” ( Milton Friedman )
- a. A company, group, or individual having exclusive control over a commercial activity.b. A commodity or service so controlled.
- a. Exclusive possession or control: arrogantly claims to have a monopoly on the truth.b. Something that is exclusively possessed or controlled: showed that scientific achievement is not a male monopoly.
Origin of monopolyLatin monopōlium from Greek monopōlion mono- mono- pōlein to sell ; see pel-4 in Indo-European roots.
- A situation, by legal privilege or other agreement, in which solely one party (company, cartel etc.) exclusively provides a particular product or service, dominating that market and generally exerting powerful control over it.
- An exclusive control over the trade or production of a commodity or service through exclusive possession.
- A land monopoly renders its holder(s) nearly almighty in an agricultural society.
- The privilege granting the exclusive right to exert such control.
- Granting monopolies in concession constitutes a market-conform alternative to taxation for the state, while the crown sometimes bestowed a monopoly as an outrageous gift.
- (metonymically) The market thus controlled.
- (metonymically) The holder (person, company or other) of such market domination in one of the the above manners.
- This term may have trademark status.
monopoly - Computer Definition
A condition in which a single company is the exclusive manufacturer of a product or provider of a service or controls an entire industry, thereby allowing the company to fix prices. A monopolistic condition can arise when a company invents and patents a product that is so compelling that an entire industry builds up around it. If the company continues to develop and patent further versions of the product, it can extend that monopolistic condition, perhaps acquiring or overwhelming competitors. Natural monopoly, a concept developed by political economist John Stuart Mill (1806
monopoly - Legal Definition