monopoly Meaning, Definition & Usage

noun (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
noun exclusive control or possession of something
- They have no monopoly on intelligence
noun 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

L. monopolium, Gr. , alone + to sell.

plural Monopolies

The exclusive power, or privilege of selling a commodity; the exclusive power, right, or privilege of dealing in some article, or of trading in some market; sole command of the traffic in anything, however obtained; as, the proprietor of a patented article is given a monopoly of its sale for a limited time; chartered trading companies have sometimes had a monopoly of trade with remote regions; a combination of traders may get a monopoly of a particular product.
Raleigh held a monopoly of cards, Essex a monopoly of sweet wines. Macaulay.
Exclusive possession; as, a monopoly of land.
If I had a monopoly out, they would have part on 't. Shak.
The commodity or other material thing to which the monopoly relates; as, tobacco is a monopoly in France. Colloq.