Question 15 of 20
Q.Answer within 30 words : What is Monopoly?
ChseodishaCHSE Odisha Plus Two (Class 12) Commerce Board 2019Subjective· 2mImportance★★★★★est
75% · 15/20 Questions
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Start your 14-day free trial to unlock the full solution →Monopoly is a market form with one seller of a product having no close substitutes and barred entry.
This 2-mark CHSE Odisha +2 Business Economics item defines a market structure.
The word monopoly means 'single seller'. Its essential features are:
- a single seller/firm constituting the whole industry,
- a product with no close substitutes,
- strong barriers to entry that keep out rivals, and …
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