Monopolize

verb: to obtain exclusive possession or control of a commodity, service, or market to the exclusion of others. This often leads to reduced competition, which may result in higher prices, less innovation, and poorer quality of goods and services for consumers.

Monopolize meaning with examples

• In many industries, a few large corporations tend to monopolize major markets, leading smaller businesses to struggle to survive. This lack of competition can stifle innovation and can ultimately harm consumers by leading to fewer choices and higher prices.
• The tech giant was accused of trying to monopolize the online advertising market, using its extensive resources to outbid smaller companies in advertisement placements. As a result, many advertisers felt their voices were lost and options limited.
• During the discussion on antitrust laws, experts argued about the dangers posed by companies that monopolize sectors, as such dominance often allows them to dictate terms without considering consumer welfare or competitive fairness.
• In the realm of politics, it's not uncommon for a single party to monopolize power, creating barriers to entry for other political factions. This can result in a lack of diverse representation and the marginalization of varying perspectives within governance.
• Local artisans found it increasingly difficult to thrive as the large chain store began to monopolize the retail space, driving them out of business. Community efforts to promote local shops emerged in response to counteract this trend.