The word "monopolise" is spelled with two "o's" and one "i" in the middle. The IPA phonetic transcription for this word is /məˈnɒpəlaɪz/. The first syllable is pronounced with the schwa sound, followed by the stressed syllable "-pol." The final syllable "-ise" is pronounced with the "eye" sound. The word means to have exclusive control over a commodity or service, thereby eliminating or reducing competition. It is important to spell this word correctly to ensure effective communication in both written and oral communication.
Monopolise is a verb that refers to the act of obtaining exclusive control or possession over something, such as a market, industry, or resource, thereby eliminating or reducing competition. It involves holding a dominant position that allows one entity or individual to dictate terms, prices, and access to goods or services, often resulting in limited options for consumers or other businesses.
When a person or company monopolises a market, they can manipulate supply and demand to their advantage, potentially leading to increased profits and power. This control can be achieved through various means, including acquiring or merging with competitors, controlling distribution channels, or utilizing intellectual property rights to prevent others from entering the market.
Monopolisation can have negative consequences for the economy, as it stifles innovation, limits consumer choices, and may result in higher prices or lower quality goods and services. Countries and regulatory bodies often implement antitrust laws and regulations to prevent or break up monopolies, promoting fair competition and protecting the interests of consumers.
In a broader sense, monopolise can also be used figuratively to describe situations where one person or entity dominates a particular area of expertise, conversation, or attention, excluding others from participation or representation.
To purchase or obtain possession of the whole of anything with the view of selling at an advanced price and controlling the market; to obtain or engross the whole.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
The word "monopolise" is derived from the Latin word "monopolium", which in turn originated from the Greek word "monopōlion". "Monopōlion" is a combination of two Greek words: "monos", meaning "alone" or "single", and "polein", meaning "to sell". Therefore, the etymology of "monopolise" can be understood as "to sell alone" or "to be the sole seller" of a particular product or service.