Monopoly
English Meaning
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.
- Exclusive control by one group of the means of producing or selling a commodity or service: "Monopoly frequently ... arises from government support or from collusive agreements among individuals” ( Milton Friedman).
- Law A right granted by a government giving exclusive control over a specified commercial activity to a single party.
- A company or group having exclusive control over a commercial activity.
- A commodity or service so controlled.
- Exclusive possession or control: arrogantly claims to have a monopoly on the truth.
- Something that is exclusively possessed or controlled: showed that scientific achievement is not a male monopoly.
