monopoly
/məˈnɑpəɫi/
a market with only one seller
monopoly in a sentence
“The utility company operates as a regulated monopoly.”
Origin of monopoly
Greek monopolion, from monos single + polein to sell
Related Words
oligopoly
a market dominated by a few large sellers
perfect competition
a market with many buyers and sellers trading identical products
price discrimination
charging different prices to different customers for the same product
supply and demand
the relationship between availability and desire that determines price
elasticity
the responsiveness of demand or supply to price changes
marginal cost
the cost of producing one additional unit