MONOPOLIZATION Meaning and
Definition
-
Monopolization refers to the process or act of acquiring complete or exclusive control over a market or industry, usually by a single company or entity. It is a business strategy that seeks to eliminate or significantly reduce competition by dominating the market and exerting influence over the supply and prices of goods or services.
In a monopolistic scenario, the dominant company becomes the sole provider of a particular product or service, enjoying a virtual absence of competition. This control allows the company to dictate prices, terms, and conditions, potentially leading to consumer exploitation or high prices.
Monopolization often occurs through various means, such as acquiring competitors, merging with other companies, aggressively pricing strategy to drive competitors out of business, or using market power to block new entrants. It can also involve patents and copyrights, enabling the exclusive rights to produce or distribute certain goods or services.
Monopolization of an industry or market is generally viewed as anti-competitive and can be illegal under certain jurisdictions' antitrust laws. To protect consumers' interests and preserve fair competition, governments may take measures to prevent or break up monopolies, such as imposing regulations, implementing antitrust laws, or encouraging the entry of new competitors.
Monopolization has been a subject of debate among economists and policymakers due to its potential negative impact on market efficiency and innovation. Therefore, striking a balance between market competition and preventing monopolistic practices remains a crucial aspect of a healthy and dynamic economy.
Top Common Misspellings for MONOPOLIZATION *
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
Other Common Misspellings for MONOPOLIZATION
Etymology of MONOPOLIZATION
The word "monopolization" derives from the noun "monopoly", which in turn comes from the Late Latin term "monopolium". The concept of monopoly can be traced back to the Greek words "monos" meaning "alone" or "single", and "polein" meaning "to sell". This combination of Greek roots emphasizes the idea of a single entity selling or controlling a product or service exclusively. The suffix "-ization" is added to form the noun "monopolization", which refers to the act or process of creating or maintaining a monopoly.
Similar spelling words for MONOPOLIZATION
Infographic
Add the infographic to your website:
