Cool MateMonopoly
UK /["/məˈnɒpəli/"]/US /["/məˈnɑːpəli/"]/
Definition
the complete control of trade in particular goods or the supply of a particular service; a type of goods or a service that is controlled in this way
In simple words: Complete control over a business or market.
Examples
- The company held a monopoly over the local telecommunications market.
- Monopoly in the pharmaceutical industry can lead to higher drug prices.
- The board game Monopoly is a popular way to pass the time on family nights.
- She won the Monopoly game by owning all the railroads and charging rent.
- Governments often intervene to break up monopolies to promote competition.
- The concept of a monopoly involves exclusive control over a product or service.
Usage notes
Used in economic discussions or legal contexts to describe when one company has no competition. Not commonly used in everyday conversation.
Grammar pattern
have + monopoly
Memory hint
Think of 'mono' meaning one—imagine one giant company owning everything.
Collocations
- public
- state
- state-controlled
Synonyms
- dominance
- control
- command
- hegemony
- power
Antonyms
- competition
- diversity
Common mistakes
- Confused with 'oligopoly', which means few companies controlling a market.
- Used mistakenly as a verb; 'monopolize' is the correct verb form.
- Misunderstanding the concept and using it in casual contexts.