(n) (economics) a market in which there are many buyers but only one seller, Example: a monopoly on silver; when you have a monopoly you can ask any price you like
n.; pl.Monopolies [ L. monopolium, Gr. &unr_;, &unr_;; mo`nos alone + &unr_; to sell. ] 1. The exclusive power, or privilege of selling a commodity; the exclusive power, right, or privilege of dealing in some article, or of trading in some market; sole command of the traffic in anything, however obtained; as, the proprietor of a patented article is given a monopoly of its sale for a limited time; chartered trading companies have sometimes had a monopoly of trade with remote regions; a combination of traders may get a monopoly of a particular product. [ 1913 Webster ]
Raleigh held a monopoly of cards, Essex a monopoly of sweet wines. Macaulay. [ 1913 Webster ]
2. Exclusive possession; as, a monopoly of land. [ 1913 Webster ]
If I had a monopoly out, they would have part on 't. Shak. [ 1913 Webster ]
3. The commodity or other material thing to which the monopoly relates; as, tobacco is a monopoly in France. [ Colloq. ] [ 1913 Webster ]
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