monopoly
UK: məˈnɒpəli | US: məˈnɑːpəli
n. exclusive control of a commodity or service in a particular market
n. a company or group having such control
n. something over which one has exclusive rights or dominance
The word "monopoly" originates from Greek monopōlion, combining monos (μόνος, "single") and pōlein (πωλεῖν, "to sell"). It entered Latin as monopolium and later Old French monopole, reflecting the concept of exclusive trade rights. The term evolved in English (16th century) to describe market dominance, retaining its core logic of "single seller" through its morphemes.
The telecom company held a monopoly over internet services in the region.
Critics argue that monopolies stifle competition and innovation.
In the 19th century, sugar production was a state monopoly in some countries.
The board game Monopoly ironically illustrates capitalist market control.
Patent laws grant temporary monopolies to encourage invention.