monopoly
noun
uk/məˈnɒpəli/ usplural monopolies [ C or U ] ECONOMICS
a situation in which one company or person or a government has no competition in the sale of a particular product or service and is able to control its supply and price:
business/corporate/government monopolies He argues that farm subsidies help keep agricultural land away from corporate monopolies.
a monopoly of sth Each firm has a monopoly of goods that tend to be used together.
a monopoly in/on sth A decision by the Supreme Court struck down the state's monopoly on radio and television stations.
[ C ] ECONOMICS
a company, person, etc. that is the only one supplying a particular product or service:
The Justice Department is suing the company because they claim that it used unfair tactics to become a monopoly.
[ C ]
something that is controlled by one person or group and not shared by others:
The network is a monopoly of the state telephone company.
See also
bilateral monopoly
commercial monopoly
legal monopoly
natural monopoly
public monopoly
state monopoly