define the term monopoly

1 ANSWERS

1. Guest8607
   

   Monopoly in simple terms can be defined as a market situation in which there are multiple  buyers, but only one seller. In such a situation, the seller can set his own price, exploiting the buyers. Monopoly can be best defined as complete control over something.

   Report (0) (0)  |   12 years, 9 month(s) ago