Monopoly

hrakash

New member
In economics, a monopoly exists when a specific individual or an enterprise has sufficient control over a particular product or service to determine significantly the terms on which other individuals shall have access to it.
 
In economics, a monopoly exists when a specific individual or an enterprise has sufficient control over a particular product or service to determine significantly the terms on which other individuals shall have access to it.

I agree with you, monopoly is possible only when there is no competitor and one single firms owns all the products or services. I am uploading a document which will explain you better about monopoly.
 

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