Monopolistic
(adjective)
Describing a market or industry in which a single company or group of companies controls the majority of the market share.
Origin:
Derived from the greek words "monos" meaning "one" and "polein" meaning "to sell".
Examples:
- The monopolistic company controls the entire market for a certain product.
- A monopolistic market can lead to reduced innovation and higher prices for consumers.
- Monopolistic markets can be found in various industries such as energy, telecommunications and transportation.
- Monopolistic practices can be illegal under anti-trust laws.
- Monopolistic competition is a type of market where firms have some market power but not complete control over prices.