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monopoly

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Monopoly describes being the only one in a given market selling a specific product, or having exclusive control over a certain thing or a board game where the aim is to buy properties on the board and then build hotels on those properties. (noun)

An example of monopoly is when one company is the only provider of phone service in the area.
An example of monopoly is when you say a cat is the only pet that can be aloof.
An example of monopoly is the phone company who is the only provider of phone service in an area.
An example of Monopoly is a board game.

See monopoly in Webster's New World College Dictionary

noun pl. monopolies

exclusive control of a commodity or service in a given market, or control that makes possible the fixing of prices and the virtual elimination of free competition
an exclusive privilege of engaging in a particular business or providing a service, granted by a ruler or by the state
exclusive possession or control of something
something that is held or controlled as a monopoly
a company or combination that has a monopoly

a game played on a special board by two or more players: they move according to the throw of dice, engaging in mock real estate transactions with play money

See monopoly in American Heritage Dictionary 4

(mə-nŏpˈə-lē)

noun pl. mo·nop·o·lies

Exclusive control by one group of the means of producing or selling a commodity or service: “Monopoly frequently … arises from government support or from collusive agreements among individuals” (Milton Friedman).
Law A right granted by a government giving exclusive control over a specified commercial activity to a single party.
a. A company or group having exclusive control over a commercial activity.
b. A commodity or service so controlled.
a. Exclusive possession or control: arrogantly claims to have a monopoly on the truth.
b. Something that is exclusively possessed or controlled: showed that scientific achievement is not a male monopoly.