monopoly

Universal Words noun (plural monopolies) 1 ~ (in / of / on sth) (business) the complete control of trade in particular goods or the supply of a particular service; a type of goods or a service that is controlled in this way: In the past central government had a monopoly on television broadcasting. * Electricity, gas and water were considered to be natural monopolies. 2 [usuallysing.] ~ in / of / on sth the complete control, possession or use of sth; a thing that belongs only to one person or group and that other people cannot share: Managers do not have a monopoly on stress. * A good education should not be the monopoly of the rich. compareDUOPOLY