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Today’s word is: monopoly. The meaning of monopoly is: a market situation where one company or a group of companies possesses exclusiveness, have a complete control over something, especially an area of business where other sellers have no access. It could be related to product quality its design, pricing or a unique technology.

In this English vocabulary lesson you will learn how to use the word monopoly. We are sure that this ESL lesson will help you to enhance your English vocabulary and speak English fluently and confidently.

The word monopoly is used to describe a situation in a market where only one supplier is present for a particular range of products or services. There is no open competition and the customers don’t have multiple options to choose from. It also indicates someone’s complete control or possession of something.

For example, the local taxi drivers insisted on having a monopoly at the tourist destination and blocked the entry of private taxi operator companies.

Listen carefully how we can use the word monopoly in 8 different situations in 8 different sentences.

Example number 1 of 8: In many countries, a commission is appointed which safeguards the interest of the consumers. One of its prime duties is to diligently prevent development of any monopoly situation in the market.

Example number 2 of 8: The central bus station would witness thousands of passengers in a day. A supplier of bottled water acquired the rights to sell his brand of water bottles at the shop and canteen and thus, created his monopoly.

Example number 3 of 8:  The ship building business needs enormous capital expenditure and expertise of defense services. Hence, often selective companies with financial backing have monopoly in this field.

Example number 4 of 8: The consumer goods companies need a large data about the spending patterns of consumers. A leading market research company sources huge amount of data across the country and it has gained monopoly in providing this data to the interested companies for a fee.

Example number 5 of 8:  Before the arrival of multiple private radio channels, the central government had a monopoly over the transmission of radio programs in India. The entry of private radio channels was allowed after 2001, thus offering a wider range of programs for the listeners.

Example number 6 of 8: The paints manufacturing company would import its raw material from a single supplier. While this was convenient, the CEO advised his purchase team to stop this monopolistic practice and enroll more suppliers for the raw material.

Example number 7 of 8: The media reported the news of a cable TV operator’s monopoly in M G Road area. Other operators were in distress due to this and they lodged a protest with the government.

Example number 8 of 8: The personal computer manufacturer sold computers preloaded with their own operating system and internet browser. The users strongly opposed this monopoly, because they desired to make their own choice. Responding to the users’ feedback, the company sold the hardware and software products separately.

Today we learnt the word monopoly which means a market situation where one company or a group of companies have a complete control over something, especially an area of business where other sellers have no access. It also means an exclusive ownership or possession of something.

Can you frame 3 sentences with monopoly and type in the comments box? We are waiting.

We are sure this lesson has helped to upgrade your English vocabulary and speak fluent English. You can download the script of this episode and all our episodes from www.bmenglishspeakingradio.in. Stay tuned for new English vocabulary lessons.

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This was episode number 199 of 200 BM Vocabulary episodes that we have planned. Kindly note that we will be releasing 1 vocabulary episode daily at 6 am Indian Standard Time.

So meet you tomorrow at 6 ‘o’ clock with a new word!

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