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In economics, a monopoly is the exclusive control of a commodity or service in a particular market that allows one to manipulate prices.
Prior to 2370s, monopolies were the cornerstone of Ferengi society and an everyday practice on Ferenginar. In fact, a "total monopoly" is the premier hand in the Ferengi game tongo. (DS9: "Change of Heart")
In 2366, Arridor and Kor established a monopoly on an entire economy of the planet Takar II, located in the Delta Quadrant. In 2372, the crew of USS Voyager attempted to devise a means of making two Ferengi leave the planet and their monopoly by making it more profitable for them to leave, or less profitable to stay. Their only solution was to "out-Ferengi the Ferengi." (VOY: "False Profits")
By late 2375, the Congress of Economic Advisors passed legislation making them illegal. Upon learning this information, Quark stated, "What's the point of being in business if you can't corner the market – gouge your customers?" In response, his brother Rom, who was keen on the idea, stated: "There's something to be said for keeping prices down by ensuring competition." (DS9: "The Dogs of War")