monopolistic
muh-nop-uh-LIS-tik
/məˌnɒpəˈlɪstɪk/
Having characteristics of a monopoly, especially in controlling the power to set prices or exclude competitors.
Used to describe market conditions, corporate mindsets, or tactics that mirror single-firm control, even if multiple smaller firms exist.
The story behind the word. Formed in the 19th century by extending 'monopolist' with the descriptive suffix '-ic'. It allowed economic theorists to describe behaviors and market traits that behave like a monopoly without requiring the strict mathematical existence of a 100% single supplier.
Word relationships
- domineering: Domineering describes personal arrogance; monopolistic describes market structural power.
- exclusive: Exclusive means restricting access; monopolistic means exercising structural price and supply control.
- competitive: Characterized by open rivalry where no firm can single-handedly dictate market terms.
Commonly confused with
- monopolize: Monopolize is the action verb; monopolistic is the descriptive adjective.
Word family
- monopoly (noun): Exclusive control over supply or trade.
- monopolize (verb): To obtain or exercise exclusive control.
Collocations
- monopolistic practices
- monopolistic competition
- monopolistic power
- monopolistic position
Example sentences
- "Monopolistic competition occurs when many firms sell products that are similar but differentiated enough to give each seller some control over prices." Economic theory paper
- "The utility company was penalized for maintaining monopolistic control over regional electricity transmission lines." Corporate policy review
Memory hook
MONOPOLISTIC = Like a Monopoly player who owns all the properties on the board. Monopolistic = Acting like a single market ruler.
When not to use
Do not use to describe a completely fair and open market with low barriers to entry.
Fun facts
- The economic term 'Monopolistic Competition' was developed by Edward Chamberlin in 1933 to describe real-world markets like restaurants or clothing brands, where firms have mini-monopolies over their specific brand identity.
Related words
Explore more words
monopoly, monopolize, antitrust, dominate, inflationary, ritualistic
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