Definition from Wiktionary, the free dictionary
See also: Monopoly
- (Received Pronunciation) enPR: mənŏ'pəlē", IPA(key): /məˈnɒpəˌli/
- (US) enPR: mənä'pəlē", IPA(key): /məˈnɑpəˌli/
Audio (US) (file)
monopoly (plural monopolies)
- 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.
- (holder): monopolist
situation of exclusive supply
privilege granting such control
market thus controled
holder of such control
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