Saturday, September 15, 2018

Monopoly Market Definition


Monopoly Market



Monopoly is defined as that market in which a single producer controls the whole supply of a single commodity which has no close substitute. Three points should be noted in regards to this definition.

1. There must be a single producer.

2. There must be only one commodity producer by the firm for which there is no substitute.


3. There are strong barriers for the firms to enter into industry.
By at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

IMPACT OF SOCIETY /SOCIAL GROUPS ON PURCHASE INTENTIONS OF HOME BUYING- Consumers are the most important factor that will make any bus...

  • Supply in elasticity
    Supply in elastic:if the supply is difficult to replace the product by a substitute goods then that is known as supply-in-elastic. Example...
  • NO PROFIT WITHOUT MARKET STRUCTURE
    MARKET STRUCTURE: there are different market structures that can be characterized to an economy, without market structure any company ca...
  • Supply Elasticity
    If the supply is easy to replace by multiple suppliers then it’s known as supply elasticity. Any unskilled worker is an example of supply e...