Monopoly Meaning and Features of Monopoly Monopoly Meaning Monopoly is made up of two words: mono, which means one, and polein, which means to sell. In economics, a monopoly is a company that sells a product that has no competitors in the market. As a result, it is a single-firm business. Google is one of the most well-known examples of a monopoly in today's world. Everyone knows about Google, whether it's your grandparents or a child in your house. Google is the most popular web search engine, with a market share of more than 70%. You can search it up on Google if you want to be sure! 1. A single seller and several other buyers : A monopoly may have a single seller and several other buyers as its fundamental quality. Because a single firm makes up the entire or most of the industry in such a market, there is no or only a tiny difference between the industry and the seller. As a result, the firm's demand curve is identical to or almost identical to the industry's dem
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