monopoly meaning and definition

MONOPOLY noun

Definition of monopoly (noun)

1. (economics) a market in which there are many buyers but only one seller
   • "a monopoly on silver"; "when you have a monopoly you can ask any price you like"
2. exclusive control or possession of something
   • "They have no monopoly on intelligence"
3. a board game in which players try to gain a monopoly on real estate as pieces advance around the board according to the throw of a die