Monopoly
A monopoly is a market situation where there is only one seller of a product or service. This seller has complete control over the supply and the price, because there are no competitors. Consumers cannot choose another seller and must depend on the monopolist.
Features of Monopoly:
Single seller – Only one firm or person supplies the product or service.
No competition – There are no rival sellers in the market.
Price maker – The monopolist can decide the price of the product, since buyers have no alternative.
Restricted entry – Other companies cannot easily enter the market due to rules, high costs, or strong control by the monopolist.
Consumer dependence – Buyers are forced to purchase from the monopolist if they need the product.
Examples of Monopoly:
A government company being the only supplier of electricity in a region.
A railway service where only one company runs all the trains.
![HOW TO ANALAYSE A PERSON, TO IF HE IS GOOD OR BAD. [MY EXPIRENCE]](https://static.wixstatic.com/media/338b83_3327cd5272eb4e17a1de3b1cab48e7a3~mv2.png/v1/fill/w_1024,h_578,fp_0.50_0.50,q_35,blur_30,enc_avif,quality_auto/338b83_3327cd5272eb4e17a1de3b1cab48e7a3~mv2.png)
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How does trading with other players help you win?
Why do railroads make good money in the game?
How important is luck versus strategy in Monopoly?
What happens if no one buys a property when they land on it?
How can you use jail to your advantage later in the game?
What’s the risk of building too many houses too quickly?
Why do some players go bankrupt faster than others?
Can someone win Monopoly without owning a full set of properties?
Keywords
Properties
Color sets
Rent
Trading
Railroads
Chance / Community Chest
Jail strategy
Houses / Hotels
Bankruptcy
Game strategy