monopoly

Definition

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.

Etymology

From Latin monopōlium, from Ancient Greek μονοπώλιον (monopṓlion, “a right of exclusive sale”), from μόνος (mónos, “sole”) + πωλέω (pōléō, “I barter, sell”). By surface analysis, mono- + -poly.

Example Sentences

• "The sale of the leaves and roots was a Government monopoly, and from it the Kings of Kôr derived a large proportion of their private revenue."
• "In 1918 a Chinese company was given a monopoly to run a service between Victoria and the districts of Mong Kok and Sham Shui Po. Five years later this monopoly was transferred to the Hong Kong and Yaumati Ferry Company, together with the right to run a service to Yau Ma Tei."
• "It has jailed environmental activists and is planning to limit the power of judicial oversight by handing a state-approved body a monopoly over bringing environmental lawsuits."