Monopoly: meaning, definitions and examples
๐ฒ
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.
Interesting Facts
Etymology
- 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.
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.
Translations
Translations of the word "monopoly" in other languages:
๐ต๐น monopรณlio
๐ฎ๐ณ เคเคเคพเคงเคฟเคเคพเคฐ
๐ฉ๐ช Monopol
๐ฎ๐ฉ monopoli
๐บ๐ฆ ะผะพะฝะพะฟะพะปัั
๐ต๐ฑ monopol
๐ฏ๐ต ็ฌๅ (ใฉใใใ)
๐ซ๐ท monopole
๐ช๐ธ monopolio
๐น๐ท tekel
๐ฐ๐ท ๋ ์ (๋ ์ )
๐ธ๐ฆ ุงุญุชูุงุฑ
๐จ๐ฟ monopol
๐ธ๐ฐ monopol
๐จ๐ณ ๅๆญ (lวngduร n)
๐ธ๐ฎ monopol
๐ฎ๐ธ einokun
๐ฐ๐ฟ ะผะพะฝะพะฟะพะปะธั
๐ฌ๐ช แแแแแแแแแ
๐ฆ๐ฟ monopoliya
๐ฒ๐ฝ monopolio