monopoly
UK /məˈnɒpəli/ · US /məˈnɑpəli/ noun, proper noun
Forms monopolies
- noun 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.
- noun 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.”
- noun 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.”
- noun (metonymic) The market thus controlled.
- noun (metonymic) The holder (person, company or other) of such market domination in one of the above manners.
- proper noun (board games) A board game in which players use play money to buy and trade properties, with the objective of forcing opponents into bankruptcy. “I was playing Monopoly with my friends at 12:00am last night.”
Synonyms
Antonyms
Etymology
From Latin monopōlium, from Ancient Greek μονοπώλιον (monopṓlion, “a right of exclusive sale”), from μόνος (mónos, “sole”) + πωλέω (pōléō, “to barter, sell”). By surface analysis, mono- + -poly.
See monopoly.
Webster’s 1913
- noun The exclusive power, or privilege of selling a commodity; the exclusive power, right, or privilege of dealing in some article, or of trading in some market; sole command of the traffic in anything, however obtained; as, the proprietor of a patented article is given a monopoly of its sale for a limited time; chartered trading companies have sometimes had a monopoly of trade with remote regions; a combination of traders may get a monopoly of a particular product.
- noun Exclusive possession; as, a monopoly of land.
Etymology [L. monopolium, Gr. 1. The exclusive power, or privilege of selling a commodity; the exclusive power, right, or privilege of dealing in some article, or of trading in some market; sole command of the traffic in anything, however obtained; as, the proprietor of a patented article is given a monopoly of its sale for a limited time; chartered trading companies have sometimes had a monopoly of trade with remote regions; a combination of traders may get a monopoly of a particular product. Raleigh held a monopoly of cards, Essex a monopoly of sweet wines. Macaulay. 2. Exclusive possession; as, a monopoly of land. If I had a monopoly out, they would have part on 't. Shak. 3. The commodity or other material thing to which the monopoly relates; as, tobacco is a monopoly in France. [Colloq.]
Sources: Wiktionary · Webster’s 1913 — from the Wiktionary entry “monopoly”, CC BY-SA 4.0. Details