what is the definition of monopoly?

Answer 1

That board game with the car, boat and little boot.

Answer 2

A monopoly is when you have the hold over something- for example you have a product that everyone needs, and only you make it- so they have to buy it from you. It also if you own everything, run everything- you have complete control.

It is illegal to have a business that has a monopoly- although Miscrosoft are pushing it. Without say Macintosh, Microsoft would have the monopoly over computers- they almost do- literally everything HAS to be compatible with microsoft computers- not all are compatible with Macs.

The government seems to be able to have monopolies, in the UK you can only pay tax via Inland Revenue- no other company (and the inland revenue is actually an independant company by the way) is allowed to take your taxes- which is a shame as other people might offer us better rates lol! Also, the Royal Mail, also an independant company, is the only company that can send private mail as well as business mail- it's a shame their isn't a rival company allowed to be set up that we could also choose to send our mail by.

Hope that helps.

Answer 3

In economics, a monopoly (from the Latin word monopolium - Greek language monos, one + polein, to sell) is defined as a persistent market situation where there is only one provider of a product or service. Monopolies are characterized by a lack of economic competition for the good or service that they provide and a lack of viable substitute goods.

In a monopoly a single firm is the sole provider of a product or service; in a cartel a centralized institution is set up to partially coordinate the actions of several independent providers.

Forms of Monopoly
Monopolies are often distinguished based on the circumstances under which they arise; the broadest distinction is between monopolies that are the result of government intervention and those that arise without it e.g. sole access to a resource, economies of scale, or consistently outcompeting all other firms. Thus the two broadest categories are de jure monopoly (also called legal monopoly and statutory monopoly) which is one that is protected from competition by government, and de facto monopoly which is one that exists without government protection

Answer 4

Monopoly means to concure every thing, means to control the area, Example if u r playing the board game and u got the most of the Streets that is said that u made a monopoly.

Answer 5

mo·nop·o·ly
1. Exclusive control by one group of the means of producing or selling a commodity or service: “Monopoly frequently … arises from government support or from collusive agreements among individuals” (Milton Friedman).

2. Law. A right granted by a government giving exclusive control over a specified commercial activity to a single party.

3.
A .company or group having exclusive control over a commercial activity.
B. A commodity or service so controlled.

4.
A. Exclusive possession or control: arrogantly claims to have a monopoly on the truth.
B. Something that is exclusively possessed or controlled: showed that scientific achievement is not a male monopoly.

Answer 6

A monopoly is when the provision of goods or services is in the hands of a single company.

Answer 7

Monopoly is a game.

Answer 8

monopoly is a game where names of places,hotels.houses and objects are there..there is also dollars in the game which u have to use to bu places...at the end whoever has d most dollasrs wins

Answer 9

Milton Bradley board game. Second only to hands down
"the slap happiest game ever played."

Answer 10

monoply when all the sources are under a single hand, if u hava a water tank in sahara and all peoples just want to buy them and no on e other seller is there this is monoply