Finesentence mobile logo
Sign in Login / Register

Monopolist Meaning: Definition, Examples, and Translations

๐Ÿ’ผ
Add to dictionary

monopolist

[mษ™หˆnษ’p.ษ™.lษชst ]

Definition

Context #1 | Noun

market condition

A monopolist is a person or entity that holds exclusive control over a commodity or service in a market, effectively eliminating competition. This allows the monopolist to set prices and dictate terms, often leading to higher prices for consumers and potential market abuses.

Synonyms

exclusive seller, single seller, sole provider.

Examples of usage

  • The monopolist raised prices significantly after eliminating competitors.
  • In a monopolist market, consumers have limited choices.
  • The government imposed regulations to prevent monopolist practices.

Translations

To see the translation, please select a language from the options available.

Interesting Facts

Economics

  • Monopolists can control prices because they are the sole supplier, potentially leading to higher prices for consumers.
  • Governments frequently regulate monopolists to promote competition and protect consumers from unfair practices.
  • A monopoly can lead to innovation in rare cases, as companies invest heavily to maintain their market share.

History

  • Throughout history, monopolies have often been broken up by governments, such as the breakup of AT&T in the 1980s.
  • In ancient Rome, the state exercised monopoly over certain goods like grain to control prices and ensure supply.

Pop Culture

  • In the classic board game Monopoly, players aim to become wealthy by acquiring properties and bankrupting their opponents, mirroring real-world monopolistic tactics.
  • The term 'monopoly' has been used in various movies and books to depict corporate greed and the struggle for power.

Psychology

  • Individuals in monopolistic positions may develop a higher sense of power and control, leading to potential ethical dilemmas.
  • Studies show that monopolistic behavior can negatively impact innovation in the market, as less competition often leads to complacency.

Origin of 'monopolist'

Main points about word origin

  • The term 'monopolist' comes from the Greek words 'monos' meaning 'single' and 'polein' meaning 'to sell'.
  • It was first used in the 17th century to describe a person or entity that controls a commodity or service.

The term 'monopolist' derives from the Greek word 'monopolein', which means 'to sell alone'. The prefix 'mono-' means 'one', indicating a single entity, while 'polein' translates to 'to sell'. The concept of monopoly dates back to the 16th century in Europe, but it gained prominence in the late 19th and early 20th centuries during the rise of large corporations. As industries consolidated, the term began to take on negative connotations associated with anti-competitive behavior. In modern economics, the study of monopolists and monopolistic markets has led to regulatory frameworks aimed at promoting competition and protecting consumers.

Word Frequency Rank

Positioned at #23,054, this word is part of extensive vocabulary. It's relatively rare in general usage but may be important in specific fields or formal writing.