Etymology
From Latin monopÅlium, from Ancient Greek μονοπώλιον or monopṓlion (a right of exclusive sale), from μόνος or mónos (sole) + πωλÎω or pÅléŠ(I barter, sell).
Noun
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.
- The market thus controlled.
- The holder (person, company or other) of such market domination in one of the above manners.
Derived terms
- monopolistic
- monopolization
- natural monopoly
Credits
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