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Monopolizing refers to the act of gaining exclusive control or dominance over a particular market or industry. When an individual, organization, or company engages in monopolizing, they aim to eliminate or restrict competition by becoming the sole provider or seller of a specific product or service in a particular geographic area. This can result in significant market power and the ability to influence prices, control supply, and dictate terms to consumers.
Monopolizing can occur through various means, such as acquiring or merging with competitors, leveraging intellectual property rights, using predatory pricing strategies, or utilizing government influence to create barriers to entry for potential rivals. The consequences of monopolizing may include reduced consumer choices, higher prices, diminished innovation, and reduced efficiency in the market.
In many countries, monopolizing is illegal or heavily regulated under antitrust or competition laws. These laws aim to promote fair competition, protect consumer welfare, and prevent the abuse of dominant market positions. Governments and regulatory bodies may intervene to break up monopolies, impose fines and penalties, or force divestitures to restore competition.
Overall, monopolizing is an anti-competitive practice that seeks to establish market control by limiting or eliminating competition, potentially leading to negative consequences for consumers, rivals, and the overall economy.
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Obtaining the sole power or right; engrossing.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
The word "monopolising" has its etymology derived from the noun "monopoly". The term "monopoly" originated from the Latin noun "monopolium" and the Greek noun "monopōlion". "Monopolium" is derived from the Greek words "mono" meaning "alone" or "single", and "pōlein" meaning "to sell". The Greek term "monopōlion" has a similar meaning with "monopōlion" being a combination of "mono" and "poleîn", which also means "to sell". Over time, the noun "monopoly" was transformed into the verb "monopolise", meaning to control or dominate a particular market or industry to the exclusion of others.
CONDITIONAL
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