monopoly

monopoly — noun

1. a market situation in which one company or group is the only seller of a particu

1.nounB2
Definition

a market situation in which one company or group is the only seller of a particular product or service, giving it total power over price and supply without any competition

Example

Kian's software firm held a monopoly on payment processing in Southeast Asia for a decade.

monopoly + on + [domain]

The government broke up the railroad monopoly to allow smaller companies to compete fairly.

break up + a + monopoly

Common collocations
  • monopoly on
  • monopoly over
  • hold a monopoly
  • have a monopoly
  • break up a monopoly
  • create a monopoly
  • grant a monopoly
  • state monopoly
  • government monopoly
  • virtual monopoly
Synonyms
  • control

    much broader; does not imply exclusivity or lack of competition

  • dominance

    implies being the strongest player, not the only one; softer than monopoly

  • exclusivity

    focuses on legal or contractual sole-supplier rights rather than market power

  • corner (informal)

    verb phrase 'corner the market' — implies strategic capture of supply, not necessarily legal

Antonyms
  • competition

    a market with multiple sellers; the opposite condition of monopoly

  • free market

    an economic system where no single entity dominates trade

Grammar Patterns

monopoly + on/over/of + [domain]

hold/have + a + monopoly + on + [domain]

Usage Note

Countable when referring to a specific market or entity ('a monopoly on rare minerals'); uncountable when discussing the concept in general ('Monopoly hurts consumer choice'). The prepositions on and over are both common, though on is more frequent in modern usage. of appears in older or legal writing.

Common Mistakes

Google has monopoly in search engines.
Google has a monopoly on search engines.
'monopoly' is usually countable and takes the preposition 'on' or 'over'.
The company has the monopoly of steel.
The company has a monopoly on steel.
Use the indefinite article 'a' unless a specific monopoly has been mentioned before, and prefer 'on' over 'of'.

Word family

  • monopolize
    verbB2
  • monopolistic
    adjectiveC1
  • monopolist
    nounC1
  • monopolization
    nounC2
  • oligopoly
    nounC1

Synonym discussion

Sense: noun/1

Monopoly, dominance, exclusivity, and control all describe a commanding position, but they differ in degree and scope. A monopoly is the most absolute: one entity has exclusive control over a market, leaving no competition at all. Dominance implies being the strongest player but not the only one — a dominant firm still faces rivals. Exclusivity focuses on legal or contractual rights to be the sole provider, often in a limited licensing context. Control is the broadest term, covering any power to direct or restrict, whether total or partial. For example: 'The railway company held a monopoly on the route' (no other train service could operate), but 'The company dominated the smartphone market' (other brands still sold phones).

monopoly ↗dominance ↗exclusivitycontrol ↗

Common collocations

Nouns

Adverbs

Phrases

  • monopoly position
  • monopoly power
  • monopoly rights
  • monopoly profits

Prepositions

Etymology

GreekLatinEnglish

From Greek 'monopolion' (monos 'alone, single' + polein 'to sell'), meaning 'the right of exclusive sale'. Adopted into Latin as 'monopolium', then entered English in the 1500s through legal discourse. The modern sense broadened from a granted trading privilege to any exclusive control over a market or resource.