What does monopoly mean

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asked Jul 22, 2021 233k views

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What does monopoly mean

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high-school

FredrikO asked

by FredrikO

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A market structure characterized by a single seller, selling a unique product in the market. In a monopoly market, the seller faces no competition, as he is the sole seller of goods with no close substitute.

Smoov answered Jul 23, 2021

by Smoov

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4 votes

Answer:

When 1 company has complete control over the supply/trade of a service/good/etc.

Step-by-step explanation:

Samshull answered Jul 26, 2021

by Samshull

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