MONOPOLIST Meaning and
Definition
-
A monopolist refers to an individual, entity, or company that holds exclusive control or domination over a particular market or industry. They possess the ability to dictate prices, control production, and influence market trends without significant competition.
Monopolists exercise their power by exploiting their stronghold in the market to maximize profits and limit consumer choice. Due to their dominance, they have the capacity to set higher prices for goods or services and generate substantial revenues. This absolute control over the market eliminates the benefits that arise from healthy market competition, such as lower prices, higher quality products, and improved customer service.
Typically, monopolists achieve their position through various means, such as acquiring other companies, merging with competitors, or utilizing patents or copyrights to prevent entry into the market. By monopolizing an industry, they gain a significant barrier against potential rivals, making it incredibly challenging for other businesses to penetrate or thrive in that sector.
Monopolists are often subject to scrutiny and regulations by governmental bodies to prevent anti-competitive behavior and protect consumer interests. In many jurisdictions, competition laws and regulations are in place to prevent or break up monopolies, fostering fair competition and ensuring a level playing field within the marketplace.
The concept of a monopolist is frequently associated with negative connotations due to the potential adverse impact on the economy, consumer welfare, and overall market efficiency. However, it is important to note that not all monopolies are illegal or harmful, particularly those arising from exceptional innovation, distinct intellectual property rights, or significant achievement.
-
One who has obtained the exclusive power to trade in a certain article, or who has the command of the market.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
Common Misspellings for MONOPOLIST
Etymology of MONOPOLIST
The word "monopolist" originated from the combination of two words: "monopoly" and the suffix "-ist".
The term "monopoly" traces its roots back to the late 16th century, derived from the Latin word "monopolium", which means "exclusive control of a commodity or trade". This Latin word was formed by combining "mono-" (meaning "single" or "alone") and "polium" (related to "polus" meaning "market").
The suffix "-ist" comes from the French "-iste", which has its roots in Latin and Greek. It often denotes someone who practices a particular action or adheres to a certain ideology. In the case of "monopolist", the suffix "-ist" is used to refer to a person or entity that engages in monopolistic practices or supports a monopoly.
Similar spelling words for MONOPOLIST
- monoploid,
- monopolise,
- monopolistic,
- monopolize,
- monopoly,
- monopolizer,
- Monopolized,
- monopoliser,
- monoblast,
- monoplacid,
- Monoplast,
- monopolised.
Infographic
Add the infographic to your website:
