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12.2: Introduction to Monopoly

  • Page ID
    48429
  • What you’ll learn to do: describe characteristics of a monopoly

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    Businesses love the idea of a free-market economy, so why then, would a business want to become a monopolist? Just think…if a business can control the entire market for a product, then they eliminate competition and are almost guaranteed a profit. In this section, you’ll learn about what a monopoly is and why firms try to eliminate their competition.

     

    CC licensed content, Original
    • Introduction to Monopoly. Authored by: Steven Greenlaw and Lumen Learning. License: CC BY: Attribution
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