Monopoly Meaning: Definition, Examples, and Translations
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monopoly
[mษหnษpษli ]
Definitions
board game
Monopoly is a popular board game where players buy, sell, and trade properties to become the wealthiest player. The goal is to bankrupt opponents by charging rent when they land on your properties. The game involves strategy, negotiation, and luck.
Synonyms
board game, property trading game, real estate game.
Examples of usage
- Let's play Monopoly this weekend!
- I always try to buy the orange properties first in Monopoly.
business
Monopoly also refers to a situation where one company or group has exclusive control over a market, allowing them to eliminate competition and control prices. This can lead to higher prices for consumers and less innovation in the market.
Synonyms
control, dominance, monopolistic control.
Which Synonym Should You Choose?
| Word | Description / Examples |
|---|---|
| monopoly |
This is the same word as listed previously. See the first entry for description.
|
| dominance |
The state of being dominant or having a commanding influence over others; often used in contexts describing hierarchies or power structures.
|
| control |
The power to influence or direct people's behavior or the course of events; can be used in various contexts involving regulation or management.
|
| monopolistic control |
Describes a situation where a single entity has significant power over a market, often leading to anti-competitive practices. This term usually carries a negative connotation.
|
Examples of usage
- The government implemented regulations to prevent monopolies from forming.
- The company was accused of engaging in anti-competitive practices to maintain its monopoly.
Translations
To see the translation, please select a language from the options available.
Interesting Facts
Economics
- Monopolies can lead to higher prices and less choice for consumers since there are no competitors.
- Governments often regulate or break up monopolies to encourage competition and protect consumers.
History
- The Standard Oil Company, founded by John D. Rockefeller in the late 1800s, was one of the most famous monopolies in history.
- In 1911, the U.S. Supreme Court ruled to break up Standard Oil due to its monopoly over the oil industry.
Pop Culture
- The classic board game 'Monopoly' simulates real estate acquisition and aims to bankrupt opponents, reflecting the competitive nature of economies.
- The game's infamous character, Rich Uncle Pennybags, symbolizes wealth and monopoly control.
Legal Aspects
- Antitrust laws exist to prevent unfair monopolies and promote healthy competition in the marketplace.
- In the U.S., the Sherman Antitrust Act of 1890 was one of the first pieces of legislation to address monopoly power.
Origin of 'monopoly'
Main points about word origin
- The word comes from the Greek 'monos,' meaning 'single,' and 'polein,' meaning 'to sell.'
- It first appeared in English during the late 16th century, originally referring to exclusive selling rights.
The term 'monopoly' originated from the Greek words 'monos' (single) and 'polein' (to sell), meaning 'the exclusive right to sell.' The concept of monopolies has been present throughout history, with powerful individuals or companies seeking to control markets for profit. Monopolies have been a topic of debate, with governments enacting antitrust laws to prevent unfair business practices and promote competition.