Question

what is monopoly and also define economic system
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Answer 1

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.

Answer 2

All the plants and animals are interdependent and interrelated to each other in their physical environment .this interdependence and interrelationship forms an ecosystem .
The exclusive possession or control of the supply of or trade in a commodity or service is called Monopoly..
Hope it helps you.....