monopoly
definition
the exclusive possession or control of the supply or trade in a commodity or service
example
The government took action to break the monopoly on telecommunications to encourage competition and lower prices.
synonyms
monopolizationexclusivitycontrol
word origin — The word 'monopoly' originates from the Greek 'monopōlion', which combines 'monos' meaning 'single' and 'polein' meaning 'to sell'.