monopoly

Meanings

• noun

  The exclusive control of a market or business, especially when other competitors are prevented by law or other means from entering.

• noun

  The power to set and maintain prices and exclude competition in a particular market or industry.

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Pronunciation

1. /məˈnɑpəˌli/
   
   
   
   Source: "https://commons.wikimedia.org/w/index.php?curid=2453611"

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Antonyms

monopsony

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Synonyms

monopolist

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Rhymes

Words rhyming with monopoly
polio , melody , symphony

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Variants

List of all variants of monopoly that leads to same result
monopolies , monopoly , anti-monopolist , anti-monopolists , anti-monopoly , antimonopolist , antimonopolists , antimonopoly

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Etymology

origin and the way in which meanings have changed throughout history.

From Middle English monopolie, from monopolier, from monopole, from Ancient Greek monopolios, from monos 'single' + polein 'sell'.

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Trivia

Any details, considerations, events or pieces of information regarding the word

1. The term 'monopoly' first appeared in English in the late 16th century.

2. Monopolies are often regulated by governments to prevent anti-competitive practices.

3. The popular board game Monopoly was first published in 1935.

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Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. Monopolistic competition: A market structure where a large number of firms sell differentiated products, but no single firm has the power to set prices.

2. Oligopoly: A market structure where a small number of firms control a large share of the market.

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Culture

Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

Monopoly has been used extensively in literature and economics to discuss market structures and their impact on competition and consumer welfare. It has also been the subject of various board games and political debates.

How to Memorize "monopoly"

1. visualize
   

   - Imagine a market where one company controls all the resources and sets the prices. Visualize how this affects competition and consumer choices.

2. associate
   

   - Associate the term with a single company controlling a market and setting prices.

3. mnemonics
   

   - Use the mnemonic 'Monopoly Man' to remember the definition. He represents a single company controlling a market and setting prices.

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