Monopoly Meaning and Definition

Pronunciation

/ˈmənəuli/ 🔊

Part of Speech

Noun

Definition

A situation in which a person or group has complete control over a particular area or activity, often to the detriment of others.

Examples

• The company’s monopoly on the market allows it to set prices and dictate terms to its competitors.
• His skill at the game made him a monopoly in his own league, never allowing anyone else to win.

Synonyms

• Control
• Dominance

Antonyms

• Open competition
• Free market

Etymology

The word “monopoly” comes from the Greek words “monos,” meaning “alone,” and “polein,” meaning “to sell.” It was first used in the 17th century to describe a situation where a single company or individual had control over the production and sale of a particular commodity.

Usage Notes

The word “monopoly” is often used in economic and business contexts to describe situations where a single company or individual has significant market power or control. It can also be used more broadly to describe situations where a single entity has dominion or control over something.

Cultural References

Monopoly is a popular board game that simulates the acquisition of wealth and real estate through the purchase and management of properties. The game was first released in 1935 and has since become a beloved classic around the world.

Idiomatic Expressions or Phrases

The phrase “buying up the competition” is an idiomatic expression that is often used to describe a situation where a single company or individual acquires control over a particular market or industry.

Related Words or Phrases

• Dominance
• Control
• Hege

Collocations

• monopoly on a market
• monopoly in a particular industry
• monopoly of a particular resource

Frequency of Use

The word “monopoly” is a relatively common word in modern language, particularly in economic and business contexts. It is often used to describe situations where a single entity has significant control or power.

Common Misspellings

Some common misspellings of the word “monopoly” include “monaloy,” “monapoly,” and “monopolly.”