What is Monopoly ? Meaning and Concept
The term monopoly is derived from Greek words 'mono' which means single and 'poly' which means seller. So, monopoly is a market structure, where there only a single seller producing a product having no close substitute.
This single seller may be in the form of an individual owner or a single partnership or a Joint Stock Company. Such a single firm in market
Tuesday, 9 November 2010
Monopoly Market Structure - Meaning , Features and Types
Posted on 10:15 by Unknown
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