Monopolistic: meaning, definitions and examples
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monopolistic
[ məˌnɑː.pəˈlɪs.tɪk ]
economic competition
Monopolistic refers to a market structure where a single seller or producer controls the entire supply of a product or service. This dominance allows the seller to set prices and output levels without facing competition. In a monopolistic market, barriers to entry are usually high, preventing other businesses from entering the market. As a result, consumers may have limited choices, and prices can be higher compared to competitive markets. Monopolistic practices can lead to inefficiencies and are often subject to regulation.
Synonyms
Examples of usage
- The monopolistic control of the company affected consumer prices.
- In a monopolistic market, innovation may stagnate.
- Regulators are concerned about monopolistic practices in the tech industry.
Translations
Translations of the word "monopolistic" in other languages:
🇵🇹 monopolista
🇮🇳 एकाधिकारवादी
🇩🇪 monopolistisch
🇮🇩 monopolistik
🇺🇦 монополістичний
🇵🇱 monopolistyczny
🇯🇵 独占的な
🇫🇷 monopolistique
🇪🇸 monopolístico
🇹🇷 tekelci
🇰🇷 독점적인
🇸🇦 احتكاري
🇨🇿 monopolistický
🇸🇰 monopolistický
🇨🇳 垄断的
🇸🇮 monopolističen
🇮🇸 einaokun
🇰🇿 монополистік
🇬🇪 მონოპოლისტური
🇦🇿 monopolist
🇲🇽 monopolístico
Etymology
The term 'monopolistic' derives from 'monopoly', which comes from the Greek word 'monopolia' meaning 'single sale'. This term combines 'mono-' meaning 'single' and 'polein' meaning 'to sell'. The concept emerged in economic discussions during the late Middle Ages and gained popularity with the rise of capitalism in the 18th century. Philosophers and economists, such as Adam Smith, began critiquing monopolies for their adverse effects on trade and consumer choice. By the 19th century, as industrialization progressed, the conversation surrounding monopolistic practices intensified, leading to the creation of antitrust laws aimed at promoting competition and limiting monopolistic behavior in various industries.