Monopolized

The term 'monopolized' refers to the act of obtaining exclusive control or ownership over a particular market, product, service, or resource, effectively limiting competition and reducing consumer choice. This term is often used in economic and business contexts where one entity exerts significant power over an industry, stifling competition and influencing prices and availability.

Monopolized meaning with examples

• The tech giant monopolized the online search market, leading to concerns over unfair competition. As a result, smaller companies found it increasingly difficult to compete, forcing some to alter their business strategies to avoid being entirely pushed out of the market in the long run.
• The pharmaceutical company was accused of monopolizing the production of a life-saving drug, which led to a public outcry. Patients argued that the high prices set by the company made it unaffordable for many, demonstrating the potential dangers of a single entity controlling essential healthcare resources.
• In the 19th century, railroads monopolized transportation across vast distances. This dominance allowed them to dictate the rates and conditions under which goods were shipped, affecting local economies significantly and creating debates around regulation and fair practice.
• The local coffee shop community was alarmed when one large chain monopolized the market, leading to the closure of many beloved independent cafés. Customers realized that without the diversity offered by these small businesses, the neighborhood would lose its unique character and charm.
• After years of aggressive tactics, the media corporation effectively monopolized cable television in the region. Viewers voiced concerns about the lack of variety in programming, as the company's control resulted in fewer choices and ultimately higher subscription costs for audiences.