A situation, by legal privilege or other agreement, in which solely one party (company,cartel etc.) exclusivelyprovides a particularproduct orservice, dominating thatmarket and generally exerting powerful control over it.
In 1918 a Chinese company was given amonopoly to run a service between Victoria and the districts of Mong Kok and Sham Shui Po. Five years later thismonopoly was transferred to the Hong Kong and Yaumati Ferry Company, together with the right to run a service to Yau Ma Tei.
It has jailed environmental activists and is planning to limit the power of judicial oversight by handing a state-approved body amonopoly over bringing environmental lawsuits.
Exactly! You can’t reduce the competition when nobody is competing! You could not be describing amonopoly more clearly if you were wearing a metal top hat while driving a metal car after winning second prize in a beauty contest!
An exclusive control over the trade or production of a commodity or service through exclusivepossession.
A landmonopoly renders its holder(s) nearly almighty in an agricultural society.
Theprivilege granting the exclusive right to exert such control.
Grantingmonopolies in concession constitutes a market-conform alternative to taxation for the state, while the crown sometimes bestowed amonopoly as an outrageous gift.
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According toRoyal Spanish Academy (RAE) prescriptions, unadapted foreign words should be written in italics in a text printed in roman type, and vice versa, and in quotation marks in a manuscript text or when italics are not available. In practice, this RAE prescription is not always followed.
