Monopoly

/məˈnɒp.ə.li/

Meaning & Definition

noun

The exclusive possession or control of the supply or trade in a commodity or service.

The company has a monopoly on the production of advanced computer chips.

A market structure where a single seller dominates the market.

The telecommunications industry is often criticized for its monopolies.

A board game in which players buy and trade properties in order to become the wealthiest.

We played Monopoly for hours, trying to bankrupt each other.

Derived from the Greek 'monopolion', from 'monos' meaning 'single' and 'polein' meaning 'to sell'.

monopoly on power

Exclusive control over authority or influence.

natural monopoly

A condition where a single supplier is more efficient than multiple providers.

monopoly money

Play money used in board games, especially Monopoly, representing fictitious currency.

oligopoly

A market structure in which a few firms dominate.

duopoly

A situation in which two companies control a market.

antitrust

Legislation to prevent monopolistic practices.

Having total control over a situation.

She has a monopoly over the gossip in our friend group.

A dominant position in a social setting.

His monopoly on the conversation made it hard for others to chime in.