Monopoly

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Monopoly Meaning and Definition in Dictionary

Definitions from Wordnet 2.0


  • a board game in which players try to gain a monopoly on real estate as pieces advance around the board according to the throw of a die
  • exclusive control or possession of something; "They have no monopoly on intelligence"
  • (economics) a market in which there are many buyers but only one seller; "a monopoly on silver"; "when you have a monopoly you can ask any price you like"

Definitions from Wiktionary


  • (economics) a market in which there are many buyers but only one seller; "a monopoly on silver"; "when you have a monopoly you can ask any price you like" ,
  • exclusive control or possession of something; "They have no monopoly on intelligence" ,
  • a board game in which players try to gain a monopoly on real estate as pieces advance around the board according to the throw of a die

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Monopoly Meaning and Definition in Wikipedia


A monopoly (from the Greek monos, one + polein, to sell) is when a product or service can only be bought from one supplier for a specific market. If other firms serve the market, they may be too small compared to the largest, thus allowing the large firm to have a lot of market power. A monopoly usually happens when there is no economic competition to produce the product or service and there is no available substitutes to the product or service.

In economics, a monopoly is a single producer of a product or service. In law, a monopoly is a firm that has a lot of market power and is able to charge very high prices for a product or service. As long as the firm has a lot of market power, it does not matter if the firm is large or small, as size is not used to decide if a firm is a monopoly.



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