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A monopoly is a market structure where there is only one dominant company that controls the entire market and has the power to set prices. This means that consumers have no choice but to buy the products or services offered by this one company, and they have to pay whatever price the company sets. Continue Reading Below

    Related Topics

    • Monopolistic Competition
    • Monopsony
    • Oligopoly
    • Pure Competition
    • Specific Types of Market Systems