Simple Definition of monopoly
: complete control of the entire supply of goods or of a service in a certain area or market
: a large company that has a monopoly
: complete ownership or control of something
Full Definition of monopoly
1 : exclusive ownership through legal privilege, command of supply, or concerted action
2 : exclusive possession or control
3 : a commodity controlled by one party
4 : one that has a monopoly
Examples of monopoly
The government passed laws intended to break up monopolies.
Origin of monopoly
Latin monopolium, from Greek monopōlion, from mon- + pōlein to sell
First Known Use: 1534
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