Origin: Greek prefix mono-
Monopoly has 5 different meanings across 2 categories:
(economics) a market in which there are many buyers but only one seller
"a monopoly on silver"
"when you have a monopoly you can ask any price you like"
a board game in which players try to gain a monopoly on real estate as pieces advance around the board according to the throw of a die
"After hours of rolling high numbers, she finally achieved her goal by purchasing every property along Boardwalk and Park Place."
A situation, by legal privilege or other agreement, in which solely one party (company, cartel etc.) exclusively provides a particular product or service, dominating that market and generally exerting powerful control over it.
"The government granted the telephone company a monopoly on landline services for fifty years to ensure universal access while preventing competition."
In plain English: A monopoly is when one person or company has total control over something so no competitors can sell similar products.
"The company has a monopoly on bottled water in this region, so prices are very high for everyone else."
Usage: Use this word to describe a market where only one company legally controls the supply of a specific good. It often appears alongside terms like "cartel" when discussing exclusive business privileges rather than simple dominance.
A board game in which players use play money to buy and trade properties, with the objective of forcing opponents into bankruptcy.
"We spent Saturday afternoon playing a round of monopoly at the family reunion."
The word monopoly comes from the Latin monopōlium, which was borrowed from Ancient Greek meaning "a right of exclusive sale." It is formed by combining words for "sole" and "to sell or barter."