monopoly definition

  • noun:
    • Exclusive control by one group of the means of producing or selling a commodity or service: "Monopoly frequently ... arises from government support or from collusive agreements among individuals” ( Milton Friedman).
    • Law A right approved by a government giving exclusive control of a specified commercial task to a single celebration.
    • an organization or group having unique control of a commercial activity.
    • A commodity or solution therefore controlled.
    • unique ownership or control: arrogantly claims to possess a monopoly regarding truth.
    • something which is exclusively possessed or managed: revealed that scientific accomplishment just isn't a male dominance.
    • A situation, by legal privilege or other arrangement, in which entirely one-party (business, cartel etc.) solely provides a specific products or services, dominating that marketplace and generally exerting powerful control of it.
    • a unique control of the trade or production of a commodity or service through exclusive ownership.
    • The privilege granting the exclusive straight to use these types of control
    • industry thus managed
    • The owner (person, company or any other) of these market domination in one of the the above ways.
    • The exclusive energy, or privilege of offering a commodity; the exclusive power, right, or privilege of working in certain article, or of trading in certain marketplace; only command of this traffic in everything, but obtained
    • Exclusive control.
    • The commodity or other material thing that the monopoly applies.
    • An exclusive privilege to carry on a traffic.
    • Specifically, in Eng. constitutional hist., and hence sometimes in US law, such an exclusive privilege whenever given by the crown or state to a person, association, or organization, for the sake of the pecuniary advantage of its exclusiveness.
    • In political business economics, so when found in a general good sense in-law, such a special privilege to carry on a traffic, or bargain in or manage certain class of articles, because will enable the holder to raise costs materially above whatever they would-be if the traffic or dealing were able to residents typically.
    • what is the subject of a monopoly: because, in Bengal opium is a monopoly.
    • The possession or assumption of anything to the exclusion of various other possessors: thus, a person is popularly thought to have a monopoly of any business which he has acquired complete control.
    • Loosely, an organization or business which enjoys a monopoly.
    • (economics) a market for which there are numerous buyers but one vendor
    • a board game for which players attempt to get a monopoly on real estate as pieces advance across the board according to the place of a die
    • unique control or ownership of one thing

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