Definition, Meaning & Synonyms
state-monopoly
Noun
/steɪt mɒnəˌpoʊli/
Definition
A state-monopoly refers to a market structure where the government or a governmental agency controls and regulates the production and distribution of a particular good or service, eliminating competition.
Examples
- The state-monopoly on alcohol in some countries limits private businesses from selling alcoholic beverages.
- In a state-monopoly system, the government can set prices and manage supply according to national interests.
Meaning
State-monopoly implies that only one entity, which is the state, is allowed to engage in the market for a certain product or service, thus having exclusive control over its availability and pricing.
Synonyms
- Government monopoly
- State control
- Public monopoly
