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Monopoly

Economics
Pronunciation

Understanding ARPABET Pronunciation

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The pronunciation guide uses the ARPABET phonetic system—the same system used in speech recognition and text-to-speech applications.

Vowel Examples:
AE1 = cat, bat
EH1 = bed, head
IY1 = see, me
OW1 = go, boat
UW1 = boot, do
Stress Numbers:
0 = no stress (unstressed)
1 = primary stress (loud)
2 = secondary stress (medium)
Example:
AH0 TH IY1 N AH0
= a-THEE-na (Athena)

The stressed syllable (marked with 1) is pronounced louder and clearer than others.

Quick Definition

Exclusive control of a market or resource by one seller or organization.

Detailed Definition
A monopoly exists when one company or authority dominates the supply of a good or service, limiting meaningful competition. Poets may invoke monopoly to describe concentration of wealth, ownership of land, control of language, or the capture of public necessities. The term carries a sense of enclosure: one power sets the terms while many people must pay, wait, obey, or go without.
Example
Example in poetry:
A poem can portray a monopoly as one company controlling every train, shop, or source of news in a town; In a political satire, a ruler who owns all the wells creates a monopoly over water and survival; A child’s voice might complain that a single landlord has a monopoly on every affordable home; The image of one giant tree blocking all sunlight can metaphorically represent a monopoly preventing smaller rivals from growing
Additional Notes
A monopoly occurs when one firm controls a market with little competition. It may lead to higher prices or limited choice, making it useful imagery for concentrated power.
Also Known As
Exclusive Control
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