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What is Monopoly
Monopoly is a term of economics theory and practice. It is the opposite of perfect competition. This is a situation where a single product or service is provided by the only company.

Monopoly is a term of economic theory and practice. It is the opposite of perfect competition. This is a situation where a single product or service is provided by only one company.

Monopoly in practice: Because there is no price competition on the supply side in the monopoly, a monopoly producer can charge a higher price than if there were more producers.

If the market demand is satisfied for its production by one firm with lower average cost, than if there were more companies in the industry, it is a natural monopoly.

Abuse of monopoly position may be the reason for the state to intervene in the form of:

  • Price regulation
  • Tax increase
  • Nationalization
  • Antitrust laws
  • Other forms of economic regulation

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Last update: 15.11.2016

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Himanshu mishra about 1 month

Hey thanks for sharing such impressive article, I have a question in my mind that how to change user name in windows 10 operating system in few steps.

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Aubrey Gamble 20 days

As a result of globalization, you need to be aware of the happening of the other countries. To get the best for your economy, you must know the political and economic status of other countries that you have relations with. You can find books on assignment masters services about the current political issues of those countries.

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