monopolism

mo·nop·o·ly  (m-np-l)

n. pl. mo·nop·o·lies

1. 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.

2. Law A right granted by a government giving exclusive control over a specified commercial activity to a single party.

3.

a. A company or group having exclusive control over a commercial activity.

b. A commodity or service so controlled.

4.

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.

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[Latin monoplium, from Greek monoplion : mono-, mono- + plein, to sell; see pel-⁴ in Indo-European roots.]

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mo·nopo·lism n.

mo·nopo·list n.

mo·nopo·listic adj.

mo·nopo·listi·cal·ly adv.

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monopolism

the practices and system of a monopoly. — monopolist, n. — monopolistic, adj.

See also: Trade