monopoly

(noun)

An exclusive control over the trade or production of a commodity or service through exclusive possession.

Related Terms

  • positioning
  • Monopsony
  • psychographics
  • market segmentation
  • Consumer-based Market Segmentation
  • behavioral segmentation
  • Social Security
  • demographic segmentation
  • protectionism

Examples of monopoly in the following topics:

  • A Brief Definition

    • The so-called monopoly union model (Dunlop, 1944) states that the monopoly union has the power to maximize the wage rate; the firm then chooses the level of employment.
    • Define the monopoly union model, the right-to-manage model, and the efficient bargaining model as theories of collective bargaining
  • The State of Competition

    • The question rests on whether it is legal to acquire a monopoly through accumulation of intellectual property rights.
  • The Benefits of Mixed Economies

    • Monopolies, market structures that are the only producer of a certain product, are allowed under government watch so they do not make it impossible for entrepreneurs in the same industry to succeed.
  • Industrial Purchasing Behavior

    • To "corner the market" is to have the greatest market share in a particular industry without having a monopoly.
    • Another definition: "To have the greatest market share in a particular industry without having a monopoly.
  • Government Regulation

    • Market failures can present themselves due to events such as: risk of monopoly, inadequate information, and unseen externalities.
  • Complications of Globalization

    • Monopolies and oligopolies on an global level are powerful and difficult to regulate, allowing for unfair practices and the pushing out of local businesses.
  • Trading blocs and agreements

    • The laws were designed to prevent large producers from flooding markets with very low priced products, gain a monopoly, and then raise prices to very high levels.
  • Mixed Economies

    • For example, in the United States, the USPS enjoys a government monopoly on nonurgent letter mail as described in the Private Express Statutes.
  • Growth Through Monetary Policy

    • Where currency is under a monopoly of issuance, or where there is a regulated system of issuing currency through banks which are tied to a central bank, the monetary authority has the ability to alter the money supply and, thus, influence the interest rate (to achieve policy goals).
  • Marketing Data Types

    • A market with single seller and multiple buyers is a monopoly.
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