Definition

Adjective: 1. Relating to or characteristic of a monopoly: Describing a situation, practice, or market structure where exclusive control over a commercial activity, product, or service is held by a single entity or a small group. 2. Having exclusive control: Possessing the power to dominate a market by excluding competition, often through ownership, legal grant, or market power.

Usage

The adjective "monopolistic" is used to describe markets, behaviors, companies, or practices that resemble, lead to, or are characteristic of a monopoly. It often carries a negative connotation, implying unfair competition, high prices, or lack of choice for consumers. - It typically modifies nouns like behavior, practice, market, power, tendencies, firm, or structure. - Example: The government investigated the company for monopolistic practices aimed at eliminating competitors.

Examples

• Describing a market structure:
  • The monopolistic control of the utility company led to higher prices for consumers.
  • Economists study the effects of moving from a competitive to a monopolistic market.
• Describing company behavior:
  • The regulator accused the tech giant of monopolistic conduct by bundling its products.
  • Their monopolistic strategy involved buying out all potential rivals.

Advanced Usage

• "monopolistic competition": An economic market structure where many firms sell products that are similar but not identical (differentiated), allowing them some degree of market power. This is a specific theoretical model.
  • In monopolistic competition, firms use advertising to differentiate their products from competitors'.
• Used in legal and regulatory contexts to describe actions that may violate antitrust or competition laws.
  • The court ruled that the exclusive contracts were monopolistic and illegal under antitrust statutes.

Variants and Related Words

• Monopoly (n): The exclusive possession or control of the supply of or trade in a commodity or service.
  • The company was broken up for holding a monopoly in the operating system market.
• Monopolist (n): A person or entity that has a monopoly.
  • The monopolist can set prices without fear of competition.
• Monopolize (v): To have or take exclusive control of something; to dominate.
  • The large firm sought to monopolize the industry.

Synonyms

• Dominant: Having power and influence over others.
• Exclusive: Limited to a single person, group, or area; not shared.
• Controlling: Exercising restraint or direction over; dominating.

Antonyms

• Competitive: Relating to or characterized by competition.
• Free-market: An economic system with minimal government intervention where prices are determined by unrestricted competition.
• Open: Accessible to all; allowing competition.

Adjective

1. having exclusive control over a commercial activity by possession or legal grant