0
The exclusive power, or privilege of selling a commodity; the exclusive power, right, or privilege of dealing in some article, or of trading in some market; sole command of the traffic in anything, however obtained; as, the proprietor of a patented article is given a monopoly of its sale for a limited time; chartered trading companies have sometimes had a monopoly of trade with remote regions; a combination of traders may get a monopoly of a particular product., Exclusive possession; as, a monopoly of land., The commodity or other material thing to which the monopoly relates; as, tobacco is a monopoly in France.
Janick McGlynn
Wiki User
∙ 9y agoA market structure in which there is a single supplier of a good or service. Also, a firm that is the single supplier of a good or service for which there are no close substitutes; also known as a monopolist.
Wiki User
∙ 13y agoAssuming no change in product demand, a pure monopolist must lower price to increase sales.
Wiki User
∙ 10y agoThe term monopoly means to have excessive control or contain of the supply of a product that is wanted. When someone has the monopoly of a product they can price gauge consumers.
Add your answer:
Earn +20 pts
What is the meaning of tobacco monopoly?
thind
Which best explains what compression is?
Packing a lot of meaning into a few
What is the meaning of basic market models?
the meaning of market models is competition derived from pure competition meaning many sellers, monopolistic competition meaning most sellers, oligopoly competition meaning few sellers and pure monopoly meaning one seller.
Is monopoly better than monopoly express or monopoly express better than monopoly?
If you want something entertaing for a short period of time Monopoly Express is better.If you want somethig that is longer , Monoploy. But you could play the original Monopoly on the Monopoly Express gameboard.
What are the four conditions in place in a perfectly competitive market?
the economy Major of those four are the natural monopoly. geographic monopoly, govrnement monopoly. technological monopoly.
What is the meaning of tobacco monopoly?
thind
Which branch explains meaning of treaties?
of Treaty
Which term best explains what's exists when one person or company has exclusive control over a particular good or service?
Monopoly
Which best explains what compression is?
Packing a lot of meaning into a few
Who explains the meaning of Christmas in A Charlie Brown Christmas?
Linus
What best explains the meaning of the term content in poetry?
The ideas or meaning in the poem
What is a four letter word meaning a story that explains life?
fate?
What is the Root word of explicit?
'Explicit' is a Latin word meaning 'he, she, or it explains'.
What term best explains what exists when one person or company has exclusive control over a particular good or service?
When a single person or company has exclusive control over a good or service it is called a monopoly. Monopolies are characterized by a lack of competition in the market.
What is The operation of an oil cartel in the Middle East is perceived by some to be an example of market failure?
we first can talk about the cartel, and then we have to say the meaning of monopoly and how this cartel seems it is monopoly but it is not and talk about the market failure
Understanding the intended audience of a media piece helps you?
It explains the purpose and meaning of the media piece.
What is the meaning of basic market models?
the meaning of market models is competition derived from pure competition meaning many sellers, monopolistic competition meaning most sellers, oligopoly competition meaning few sellers and pure monopoly meaning one seller.
