-poly, -pole, -polism, -polist, -polists, -polistic, -polistically +
(Greek: used as a suffix; sale, selling; one who sells; pertaining to selling, to sell; trade, barter)
2. A condition in which there are only two suppliers of a particular commodity, service, etc.; the domination of a particular market by two firms.
3. A situation in which two companies own all or nearly all of the market for a given type of product or service.
4. An economic or political condition in which power is concentrated in two persons or groups.
A true duopoly is another form of oligopoly where only two producers exist in a market. By definition, it refers to two firms which have dominant control over a market. In the field of industrial organization, it is considered to be the most commonly known form of oligopoly.
2. By extension, to demand or take all of something; such as, someone's time, attention, or affection: Little Jimmy loved swinging in the garden and didn't let his sister swing at all and therefore he monopolised the swing completely!
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By definition, monopoly is characterized by an absence of competition; which sometimes results in high prices and inferior products."2. A product or service whose supply is controlled by only one company and which has an exclusive control of a commodity or service in a particular market or a control that makes possible the manipulation of prices: "Several governments attempt to prevent commercial monopolies from existing through the use of antitrust laws.
3. In law, a legal right to the exclusive control of an industry or service, as granted by a government: "A situation in which a single company or group owns all or nearly all of the market for a given type of product or service."
"Public monopolies are set up by governments to provide essential services; such as, water, electricity, police services, garbage collecting, etc.; so, in such cases, a monopoly is probably more effcient than an oligopoly or multiopoly would be."4. A law or a situation in which one supplier or producer controls over one third of a market: "Naturally, there are gray areas which take, for example, the granting of patents on new inventions. These provide a monopoly on a product for a set period of time."
"The reasoning behind patents is to give innovators some time to recoup what are often large research and development costs. In theory, they are a way of using monopolies to promote innovation."