What does it mean to call someone a monopoly?
Word forms: monopolies If a company, person, or state has a monopoly on something such as an industry, they have complete control over it, so that it is impossible for others to become involved in it.
Is monopoly an adverb?
In a monopolistic manner.
Is the word monopoly a verb?
verb (used with object), mo·nop·o·lized, mo·nop·o·liz·ing. to acquire, have, or exercise a monopoly of. to obtain exclusive possession of; keep entirely to oneself: Children monopolize one’s time.
How do I use monopoly in a sentence?
Monopoly sentence example
- The state tobacco monopoly was abolished in 1817.
- Venice lost her monopoly of oriental traffic.
- No one has the monopoly on truth.
- In the personal computer market, Microsoft holds a monopoly .
What type of noun is monopoly?
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.
What is monopoly in social studies?
/məˈnɑp·ə·li/ social studies. complete control of the supply of particular goods or services, or a company or group that has such control: The Postal Service is guaranteed a monopoly on all first-class letters.
Is monopoly a proper noun?
Proper noun A board game in which players use play money to buy and trade properties, with the objective of forcing opponents into bankruptcy.
What is monopoly as a verb?
transitive verb. : to get a monopoly of : assume complete possession or control of monopolize a conversation.
What are some examples of a monopoly?
The following are examples of monopoly in real life.
- Monopoly Example #1 – Railways.
- Monopoly Example #2 – Luxottica.
- Monopoly Example #3 -Microsoft.
- Monopoly Example #4 – AB InBev.
- Monopoly Example #5 – Google.
- Monopoly Example #6 – Patents.
- Monopoly Example #7 – AT.
- Monopoly Example #8 – Facebook.
What is the verb for monopoly?
transitive verb. : to get a monopoly of : assume complete possession or control of monopolize a conversation. Other Words from monopolize Synonyms More Example Sentences Learn More About monopolize.
Which of the following best describes monopoly?
Definition: A market structure characterized by a single seller, selling a unique product in the market. In a monopoly market, the seller faces no competition, as he is the sole seller of goods with no close substitute. He enjoys the power of setting the price for his goods.
Which is the correct definition of the word Monopoly?
noun, plural mo·nop·o·lies. exclusive control of a commodity or service in a particular market, or a control that makes possible the manipulation of prices.Compare duopoly, oligopoly.
What happens if a company has a monopoly?
If a company, person, or state has a monopoly on something such as an industry, they have complete control over it. The cable company had a monopoly on communications on the island.
How are monopolies characterized by lack of competition?
Monopolies are thus characterized by a lack of economic competition to produce the good or service, a lack of viable substitute goods, and the possibility of a high monopoly price well above the seller’s marginal cost that leads to a high monopoly profit.
What is the difference between monopsony and duopoly?
This contrasts with a monopsony which relates to a single entity’s control of a market to purchase a good or service, and with oligopoly and duopoly which consists of a few sellers dominating a market.