What is Monopoly in Economics?
In economics, a monopoly is when there are many buyers, but there is only one seller. This one seller can control the price of the good or service because he has no competition to compete with.
Nine ways to master this topic
Sometimes you simply need a fresh perspective to solve a challenge. Click here
for a random insight from history's great thinkers.
Copyright © 2013 Dictionary.com, LLC. All rights reserved.