[{"word":"monopoly","phonetic":"/məˈnɒpəˌli/","phonetics":[{"text":"/məˈnɒpəˌli/","audio":""},{"text":"/məˈnɑpəˌli/","audio":"https://api.dictionaryapi.dev/media/pronunciations/en/monopoly-us.mp3","sourceUrl":"https://commons.wikimedia.org/w/index.php?curid=2453611","license":{"name":"BY-SA 3.0","url":"https://creativecommons.org/licenses/by-sa/3.0"}}],"meanings":[{"partOfSpeech":"noun","definitions":[{"definition":"A situation, by legal privilege or other agreement, in which solely one party (company, cartel etc.) exclusively provides a particular product or service, dominating that market and generally exerting powerful control over it.","synonyms":[],"antonyms":["monopsony"]},{"definition":"An exclusive control over the trade or production of a commodity or service through exclusive possession.","synonyms":[],"antonyms":[],"example":"A land monopoly renders its holder(s) nearly almighty in an agricultural society."},{"definition":"The privilege granting the exclusive right to exert such control.","synonyms":[],"antonyms":[],"example":"Granting monopolies in concession constitutes a market-conform alternative to taxation for the state, while the crown sometimes bestowed a monopoly as an outrageous gift."},{"definition":"(metonymy) The market thus controlled.","synonyms":[],"antonyms":[]},{"definition":"(metonymy) The holder (person, company or other) of such market domination in one of the above manners.","synonyms":["monopolist"],"antonyms":[]}],"synonyms":["monopolist"],"antonyms":["monopsony"]}],"license":{"name":"CC BY-SA 3.0","url":"https://creativecommons.org/licenses/by-sa/3.0"},"sourceUrls":["https://en.wiktionary.org/wiki/monopoly"]}]