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Meaning Of Monopoly
n.
The exclusive power, or privilege of selling a commodity;
the exclusive power, right, or privilege of dealing in some article, or
of trading in some market; sole command of the traffic in anything,
however obtained; as, the proprietor of a patented article is given a
monopoly of its sale for a limited time; chartered trading companies
have sometimes had a monopoly of trade with remote regions; a
combination of traders may get a monopoly of a particular product.
n.
Exclusive possession; as, a monopoly of land.
n.
The commodity or other material thing to which the
monopoly relates; as, tobacco is a monopoly in France.