Meaning of the word "have a monopoly on" in English

What does "have a monopoly on" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

have a monopoly on

US /hæv ə məˈnɑːpəli ɑːn/
UK /hæv ə məˈnɒpəli ɒn/
"have a monopoly on" picture

Idiom

1.

to have complete control over something, especially a product or service, so that others cannot compete

Example:
The company used to have a monopoly on internet services in the region.
No single entity should have a monopoly on essential resources.
2.

to be the only one who has a particular quality, skill, or type of knowledge

Example:
She seems to have a monopoly on good ideas in this team.
Some people think they have a monopoly on truth, but that's rarely the case.