noun
- plural of monopoly; exclusive control over a commodity or service in a particular market
Usage: economics; business
Examples
- The government broke up several monopolies in the telecommunications industry.
- These monopolies controlled prices and limited consumer choice.
- Anti-trust laws prevent companies from forming illegal monopolies.
- Natural monopolies often exist in utilities like water and electricity.
- The tech giants face accusations of operating as digital monopolies.
- Historical monopolies in oil and steel were eventually dismantled.
- Some economists argue that certain monopolies can be beneficial for innovation.