Another Word For Monopoly

Meaning

The word "monopoly" refers to a situation in which a single company or entity has exclusive control over a particular product or service in a market, allowing it to dominate and potentially manipulate pricing and availability. This lack of competition can lead to negative effects for consumers, such as higher prices and fewer choices.

Synonyms

• Dominance
• Control
• Exclusivity
• Oligopoly (when a few companies dominate)
• Sole provider

Antonyms

• Competition
• Diversity
• Plurality
• Free market
• Coexistence

Etymology

The term "monopoly" comes from the Greek words "monos," meaning "single" or "alone," and "polein," meaning "to sell." This reflects the concept of being the sole seller of a commodity or service.

Examples

1. The new law was designed to prevent any company from establishing a monopoly over the telecommunications market.
2. Critics argue that the tech giant is creating a monopoly by buying out smaller competitors.
3. In history class, we learned how monopolies can lead to economic inequality and social unrest.
4. Many small businesses struggle to survive in a market dominated by a monopoly.