Question

what is meant by monopoly?
please answer it fast...​

Answer 1

Answer:

A monopoly is a dominant position of an industry or a sector by one company, to the point of excluding all other viable competitors. Monopolies are often discouraged in free-market nations. They are seen as leading to price-gouging and deteriorating quality due to the lack of alternative choices for consumers.

Answer 2

the exclusive possession or control of the supply of or trade in a commodity or service.
"the state's monopoly of radio and television broadcasting in short.