Monopoly  

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  1. A situation in which solely one company exclusively provides a particular product or service, dominating that market and generally exerting powerful control over it.
  2. An exclusive control over the trade or manufacture of a commodity
  3. A company dominating a market in one of the the above manners.

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In economics, a monopoly (from Greek monos , alone or single + polein , to sell) exists when a specific individual or enterprise has sufficient control over a particular product or service to determine significantly the terms on which other individuals shall have access to it.

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