Monopoly (Noun)
Meaning 1
(economics) a market in which there are many buyers but only one seller; "a monopoly on silver"; "when you have a monopoly you can ask any price you like".
Classification
Nouns denoting natural processes.
Examples
- The company held a monopoly on the local water supply, giving them significant control over pricing and distribution.
- In the early 20th century, the oil industry was dominated by a small number of firms that exercised a near-monopoly on production and refining.
- Critics argue that the patent on the life-saving medicine has given the pharmaceutical company a monopoly on the treatment, allowing them to charge exorbitant prices.
- The new business regulations aimed to prevent a monopoly on the telecommunications market by limiting the amount of spectrum that any one company could own.
- Historically, governments have sometimes granted monopolies to certain companies or individuals, such as a monopoly on postal services or tobacco sales, in exchange for fees or other concessions.
Hypernyms
Related Words
Meaning 2
A board game in which players try to gain a monopoly on real estate as pieces advance around the board according to the throw of a die.
Classification
Nouns denoting acts or actions.
Meaning 3
Exclusive control or possession of something; "They have no monopoly on intelligence".
Classification
Nouns denoting natural processes.