monopoly
Meaning: The exclusive possession or control of the supply of a commodity or service; a company or group that has such control.
A monopoly exists when one company dominates a market with no significant competition. Monopolies can lead to higher prices and reduced innovation, which is why most countries have competition laws to prevent them. Natural monopolies occur in industries where it is inefficient to have multiple providers (e.g., water supply). The adjective form is 'monopolistic.'
Examples
- The company held a virtual monopoly on the supply of rare earth minerals. 该公司对稀土矿物的供应拥有事实上的垄断地位。La empresa ostentaba un monopolio virtual sobre el suministro de minerales de tierras raras.その企業はレアアース鉱物の供給において事実上の独占的地位を占めていた。그 기업은 희토류 광물 공급에서 사실상의 독점적 지위를 차지하고 있었다.
- Competition regulators stepped in to prevent the creation of a monopoly in the broadband market. 竞争监管机构介入以阻止宽带市场形成垄断。Los reguladores de la competencia intervinieron para impedir la creación de un monopolio en el mercado de banda ancha.競争規制当局がブロードバンド市場における独占の形成を阻止するために介入した。경쟁 규제 당국이 초고속 인터넷 시장에서의 독점 형성을 저지하기 위해 개입했다.
- Before privatisation, the state had a monopoly on postal services. 在私有化之前,国家对邮政服务拥有垄断权。Antes de la privatización, el Estado tenía el monopolio de los servicios postales.民営化以前、国家が郵便事業の独占権を握っていた。민영화 이전에는 국가가 우편 서비스의 독점권을 쥐고 있었다.
Pronunciation
Usage Guide
Context: professional, media, academic
Tone: neutral
Origin & History
From Greek monopolion (exclusive sale), from monos (alone, single) + polein (to sell). Entered English in the 16th century via Latin.
Cultural Context
Era: Modern
Generation: All ages
Social background: Universal
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