Meaning of “government monopoly” in the English Dictionary

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"government monopoly" in Business English

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government monopolynoun [ C or U ]

uk us GOVERNMENT, ECONOMICS

a situation in which the government owns and controls a particular industry and there is no competition:

The exploration of space has been a government monopoly for 50 years, but it can be done through the private sector too.

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