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What is the Greek word of monopoly?
The word ‘monopoly’ is derived from the Greek words monos (single) and polein (to sell). Monopoly, in economic terms, is used to refer to a specific company or individual has a large enough control of a particular product or service that allows them to influence it’s price or certain characteristics.
What does monopolistic refer to?
A monopolistic market is a theoretical condition that describes a market where only one company may offer products and services to the public. A monopolistic market is the opposite of a perfectly competitive market, in which an infinite number of firms operate.
What is the other name of monopoly?
Exclusive control over the trade or production of a commodity or service through exclusive possession. syndicate. consortium. cartel. trust.
What is a synonym for monopolistic?
Adjective. Acting to hinder or obstruct competition. anticompetitive. autocratic.
What are the types of monopoly?
Monopoly is a market in which a single seller controls the entire supply of a commodity….The different types of monopoly are as follows:
- Private monopoly:
- Public monopoly:
- Absolute monopoly:
- Imperfect monopoly:
- Simple or single monopoly:
- Discriminative monopoly:
What is another word for monopolistic?
Monopolistic Synonyms – WordHippo Thesaurus….What is another word for monopolistic?
| anticompetitive | autocratic |
|---|---|
| exploitative | unchallenged |
What are monopolies called?
Definition: A market structure characterized by a single seller, selling a unique product in the market. In a monopoly market, the seller faces no competition, as he is the sole seller of goods with no close substitute.
What is opposite of monopoly?
A monopoly is when a single company produces goods with no close substitute, while an oligopoly is when a small number of relatively large companies produce similar, but slightly different goods.