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English definition of “state monopoly”

state monopoly

noun [C or U]     (also public monopoly)
GOVERNMENT, ECONOMICS an organization owned by a government which supplies all of a particular product or service , with no competitors , or a situation in which this happens : The company is a former state monopoly in which the Japanese government still holds a large proportion of the shares . The tobacco industry has been run as a state monopoly since the revolution . In China most commodities , except 16 crucial ones which are currently under state monopoly , are open to all enterprises .
(Definition of state monopoly noun from the Cambridge Business English Dictionary © Cambridge University Press)
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