The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Search Results for: Monopoly


The domination of one company that supplies the majority of a product to the public. This company will distribute all of one product as it has out priced the competition and is


On the basis of its market share a supplier has a limited degree of price setting power.


Government-granted right to be an exclusive provider given to an entity for a specific purpose. The government retains monitoring and regulatory rights over the monopoly’s activities, policies, and rates. Examples of purposes


Because one firm owns, manages, or controls a singularly unique raw material, technology, or other factors, it alone supplies a market’s total demand for a good or service at a price lower


A state where a company with MONOPOLY power charges different prices in different markets, according to the characteristics of each market. This presumes the monopolist can clearly identify the source of demand


When the market has one buyer and one seller. Its common in intermediate states in production. A monopoly or monopsoly is different than this term.


In commercial law. A privilege or peculiar advantage vested in one or more persons or companies, consisting in the exclusive right (or power) to carry on a particular business or trade, manufacture

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An example of this is the Sherman Antitrust Act and the Clayton Act where federal laws aim at preventing corporations, individuals, combinations of corporations or trusts from gaining and maintaining a monopoly


These are the types of trade that stifles competition and can lead to a monopoly and deprive the public of the advantages of free competition


The opposite of monopoly where a customer is served by a large number of suppliers without the prospect of getting any more.


Price stabilization breakdown causes inefficient resource allocation leading to this named situation. Initially trigged by some external factor, like a monopoly. Also refer to market inefficiency.


A price bargained and set by the government and the product-maker to mitigate a cataclysm’s effect, causing conditions that cannot be remedied, such as extreme shortages of a necessary product or a


Private enterprise and some state monopoly coexist in this type of economic system. Public services, defense, infrastructure, and basic industries are some of these state monopolies. The means of production are shared