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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.

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Which term best explains what's exists when one person or company has exclusive control over a particular good or service?

Monopoly


What 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 name for when a company take exclusive control of an industry?

Monopoly


What is the meaning of monopolies?

Monopoly is the control of a commodity or service in a particular market or the manipulation of prices. The control is exclusive.


When you have exclusive control of anything you what?

When you have exclusive control of anything, you monopolize it


What is exclusive control?

When you have exclusive control over something, you monopolize it. -- XxMUSE FANxX


What is monopoly in social studies?

The definition for the word monopoly in social studies is "exclusive control of a commodity or service in a particular market, or a control that makes possible the manipulation of prices. "


What is the exclusive control of an industry?

a monopoly


What is a word for exclusive control?

Monopoly.


Who has exclusive authority direction and control of the Joint Staff?

The Chairman of the Joint Chiefs of Staff has exclusive authority, direction, and control of the Joint Staff.


What is A group's exclusive control over goods?

Monopoly is a group's exclusive control over goods or services within a particular market, allowing them to set prices and restrict competition. This can have negative effects on consumers in terms of choice, quality, and pricing. Regulatory measures are often put in place to prevent monopolies and promote fair competition.


What strategies enabled big business to eliminate competition?

Your business needs to be the best is selling and marketing.OrThe formation of monopolies allowed for exclusive control over the supply of a particular product with no competition.