Definition, Meaning & Synonyms
monopolio
noun
/məˈnɒp.ə.li.oʊ/
Definition
A market structure where a single seller or producer controls the entire supply of a product or service.
Examples
- The government stepped in to prevent the company from creating a monopolio in the telecommunications industry.
- In a monopolio, prices may increase due to the lack of competition.
Meaning
The situation in which a single entity has exclusive control over a commodity or service, limiting competition and choices available to consumers.
Synonyms
- monopoly
- exclusive control
- dominance