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monopolize

verb

/məˈnɒp əˌlaɪz/

IPA:

Dictionary definition of monopolize

To gain exclusive control or dominance over a particular market, industry, or resource, thereby eliminating or significantly reducing competition.
"They strategically acquired smaller competitors to monopolize the industry."

Detailed meaning of monopolize

When a company or individual monopolizes something, they possess the power to set prices, dictate terms, and limit access to the market, often resulting in reduced choices and higher prices for consumers. This practice involves preventing or impeding the entry of other competitors into the market, usually through tactics such as mergers, acquisitions, predatory pricing, or exploiting intellectual property rights. Monopolizing can have detrimental effects on market dynamics, stifling innovation, suppressing fair competition, and potentially harming consumers by depriving them of alternatives and fair pricing.

Example sentences containing monopolize

1. The company's aggressive business tactics allowed them to monopolize the market.
2. The telecom giant attempted to monopolize internet services in the region.
3. The government imposed regulations to prevent any single company from monopolizing the energy sector.
4. The conglomerate aimed to monopolize the distribution of essential goods.
5. The pharmaceutical company used patent laws to monopolize the production of a life-saving drug.
6. Their innovative product quickly gained popularity and threatened to monopolize the market.

History and etymology of monopolize

The verb 'monopolize' has its roots in the combination of two Latin words: 'monopolium' and 'monopolizare.' 'Monopolium' comes from the Greek word 'monopōlion,' where 'mono' means 'alone' or 'single,' and 'pōleōn' means 'selling.' 'Monopolizare' is derived from 'monopolium.' The original meaning of 'monopolize' was closely related to exclusive trading rights granted by a government or authority. Over time, it evolved to encompass the idea of gaining exclusive control or dominance over a particular market, industry, or resource, which often results in the elimination or significant reduction of competition. The etymology of 'monopolize' reflects the historical connection between exclusive control and the concept of being the sole seller or provider of a particular product or service, highlighting the potential negative consequences of such dominance in commerce.

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Further usage examples of monopolize

1. The retailer engaged in predatory pricing to monopolize the local retail industry.
2. The tech giant's dominance in the market allowed it to monopolize user data.
3. The company's aggressive marketing campaign sought to monopolize consumer attention.
4. The company employed anti-competitive practices to monopolize the supply chain.
5. The media corporation aimed to monopolize the entertainment industry by acquiring major studios.
6. The airline company sought to monopolize air travel routes to maximize profits.
7. The gaming company acquired exclusive rights to popular franchises in an attempt to monopolize the gaming market.
8. The political party's efforts to monopolize power sparked public outcry and protests.
9. The corporation tried to monopolize the tech sector.
10. Their strategy was to monopolize the market early.
11. Big conglomerates often aim to monopolize industries.
12. The company's aggressive tactics threatened to monopolize.
13. He sought to monopolize the supply chain completely.
14. The giant retailer attempted to monopolize the market.
15. The merger aimed to monopolize key resources.
16. They conspired to monopolize the local market.
17. The conglomerate sought to monopolize global trade.
18. The new product could potentially monopolize sales.
19. Smaller businesses accused them of trying to monopolize.
20. The goal was to monopolize the niche market.
21. The company tried to monopolize distribution channels.
22. Their patent allowed them to monopolize production.
23. He used anticompetitive tactics to monopolize.
24. The corporation aimed to monopolize innovation.
25. Their aggressive pricing aimed to monopolize.
26. They faced lawsuits for trying to monopolize.
27. The conglomerate's tactics threatened to monopolize.
28. The startup hoped to disrupt and monopolize.