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Meaning of “government monopoly” in the English Dictionary

"government monopoly" in Business English

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government monopolynoun [C or U]

uk   us   GOVERNMENT, ECONOMICS
a ​situation in which the ​governmentowns and ​controls a particular ​industry and there is no ​competition: Government ​monopoly of ​communications is ​incompatible with ​e-commerce. The ​exploration of ​space has been a ​governmentmonopoly for 50 ​years, but it can be done through the ​privatesector too.
(Definition of government monopoly from the Cambridge Business English Dictionary © Cambridge University Press)
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