Social Sciences, asked by dishu9959, 11 months ago

what is meant by manopoly in economics

Answers

Answered by shrikrushna3338

Definition of 'Monopoly'

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. ... He enjoys the power of setting the price for his goods.

Mark as brainliest

Thanks

Answered by QueenOfKnowledge

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.

Previous Question

Next Question

Similar questions

Science, 6 months ago

S.I Unit of frequency is............................... 1 newton hertz joule none of these ...

Hindi, 6 months ago

हिंदी में स्वर कितने होते हैं...

Biology, 6 months ago

The following questions consist of two statements - Assertion (A) and Reason (R). Answer these questions selecting the appropriate option given below: a) Both A and Rard true/and R is the correct explanation for A. b) Both A and R are tue but R is not the correct explanation for A. c) A is true but R is false d) A is false but R is true Assertion(A): Alloys are commonly used in electrical...

History, 11 months ago

Which accept of the painting on the wall makes you think that it might have been some kind of ritual?

Hindi, 11 months ago