Meaning of “absolute monopoly” in the English Dictionary


"absolute monopoly" in Business English

See all translations

absolute monopolynoun [ C or U ]

uk us

a situation where only one company, country, etc. produces and sells a particular product:

have an absolute monopoly on sth In order to have an absolute monopoly on the use of an idea, you need to take out a patent.
The Post Office once had an absolute monopoly in the provision of telephone lines.

(Definition of “absolute monopoly” from the Cambridge Business English Dictionary © Cambridge University Press)