Monopolise

To monopolise is to take exclusive ownership or control of something, often a product, service, or resource, thereby preventing others from accessing or competing effectively. It can involve dominating a market, a specific area, or a process, frequently resulting in significant influence over prices, supply, and demand. The act of monopolising often aims to maximize profit and eliminate rivals. This control can be achieved through various means, including legal patents, strategic acquisitions, or unfair business practices. It can also refer to a person or entity who dominates a conversation or activity, not allowing others to participate equally. This can also be applied to time and resources.

Monopolise meaning with examples

• The tech giant sought to monopolise the social media market by acquiring several smaller platforms, effectively stifling competition and consolidating its power. The government investigated their practices. This control allowed them to dictate algorithms, influence user behavior, and control vast amounts of data. Such acquisitions, are common in the industry, raising concerns about anti-competitive practices.
• During the late 19th century, powerful industrialists aimed to monopolise the steel industry through mergers and acquisitions, creating massive companies and controlling prices. This ambition resulted in the creation of a large steel empire. By controlling production and distribution, they suppressed their smaller competitors, creating huge wealth for themselves while sometimes harming consumers with increased costs. They often controlled politicians too.
• In a debate, a single participant may monopolise the conversation by constantly interrupting others, expressing their opinion, and dominating the speaking time. This makes it difficult for other participants to voice their viewpoints. Those who monopolise conversations hinder free flowing discussion and make other participants less keen to speak.
• A company might monopolise a critical mineral supply chain through agreements, investments in mines, and controlling processing facilities. This gives them leverage over manufacturing companies and enables them to control supply, prices, and market dominance. Such actions can affect the global market, influencing prices and global economic stability.