What does monopolist mean?
A monopolist is a person or organization that has complete control over a particular market or industry. This can lead to a lack of competition and innovation, resulting in higher prices for consumers. Monopolistic practices can be detrimental to consumers and the economy as a whole. The term is often used in formal or technical contexts, and can have a negative connotation. In some cases, monopolists may be subject to regulation or antitrust laws. Understanding the concept of a monopolist is essential for analyzing market structures and making informed decisions about economic policy.
nounA person or organization that has complete control over a particular market or industry, often to the detriment of competition and consumers.
- A person or organization that has complete control over a particular market or industry.
"The company's monopolistic practices led to a significant increase in prices for consumers."
"The company's monopolistic practices led to a significant increase in prices for consumers."
"The government intervened to break up the monopolist's stranglehold on the industry."
The plural form is used to describe multiple monopolists or to emphasize the extent of their control.
"The government intervened to break up the monopolists' stranglehold on the industry."
Reviewed by Deb Chak, Editor. AI-assisted content curated by RJS Tech Solutions LLP.
Etymology of monopolist
The word 'monopolist' comes from the Greek words 'monos' meaning 'alone' and 'polein' meaning 'to sell'. It was first used in the 17th century to describe a person or organization that had a complete monopoly on a particular market or industry.
Usage notes
Monopolist can have a negative connotation, implying a lack of competition and innovation. It is often used in formal or technical contexts.