Introducing
Your new presentation assistant.
Refine, enhance, and tailor your content, source relevant images, and edit visuals quicker than ever before.
Trending searches
A situation in which a single market or group owns all or nearly all of the market for a specific good or service. There is no competition.
Occurs when a company has a legal protection (patent or copyright) of the product
Ex: If a company develops a drug that cures all cancer, they would get a legal patent
A type of monopoly that exists as a result of the high fixed or start-up costs of operating a business in a particular industry. It happens when that specific industry makes it completely impractical for multiple companies to be in the same business
When a government passes a law reserving a specific trade, product, or service for government agencies
Ex: It is impractical to have multiple sewage lines running to houses
Ex: government may control running water
Occurs when a company owns all of a specific good or service in one specific area
Ex: Small town general store may have a monopoly over many goods it sells in that area