a situation where a business activity is controlled by only one company or by the government and other companies do not compete with it
Many national airlines used to be monopolies, but this is no longer the case.
The company's dominance created a monopoly, stifling competition in the market.
Breaking up a monopoly is often seen as a way to encourage innovation and fair competition.
The government intervened to regulate the industry and prevent a single company from establishing a monopoly.
Monopolies can lead to inflated prices and reduced options for consumers.
