capitalism
type: Concept
narrower: monopoly

concepts
type: Collection
type: ConceptGroup
member: monopoly

economic concepts
type: Concept
narrower: monopoly

law and economics
type: Concept
narrower: monopoly

monopoly
type: Concept
broader: law and economics
broader: economic concepts
broader: capitalism
definition: Monopoly is the condition under which a single seller sets prices in a market. This condition opposes that of perfect competition, where sellers have no pricing power. [Source: Encyclopedia of Health Care Management; Monopoly]