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Monopoly money template microsoft word - Ĭustom Monopoly Board Template Download Play Money And Empty. Definition of MONOPOLY in the dictionary. Monopolies, monopsonies and oligopolies are all situations such that one or a few of the entities have market power and therefore interact with their customers, suppliers and the other companies in ways that leave market interactions distorted.Printable monopoly money - īest Free Printable Play Money | Monopoly – State of the Union. Likewise, a monopoly should be distinguished from a cartel, in which several providers act together to coordinate services, prices or sale of goods. A small business may still have the power to raise prices in a small industry.Ī monopoly is distinguished from a monopsony, in which there is only one buyer of a product or service a monopoly may also have monopsony control of a sector of a market. Although monopolies may be big businesses, size is not a characteristic of a monopoly. In law, a monopoly is a business entity that has significant market power, that is, the power to charge high prices. In economics, a monopoly is a single seller. Have fun with petopoly or create your own monopoly like game with a free blank board template. The verb "monopolize" refers to the process by which a company gains the ability to raise prices or exclude competitors. Monopolies are thus characterized by a lack of economic competition to produce the good or service and a lack of viable substitute goods. The holder (person, company or other) of such market domination in one of the the above manners.Ī board game in which players use play money to buy and trade properties, with the objective of forcing opponents into bankruptcy.įreebase (0.00 / 0 votes) Rate this definition:Ī monopoly exists when a specific person or enterprise is the only supplier of a particular commodity. Granting monopolies in concession constitutes a market-conform alternative to taxation for the state, while the crown sometimes bestowed a monopoly as an outrageous gift The privilege granting the exclusive right to exert such control Wiktionary (0.00 / 0 votes) Rate this definition:Ī situation, by legal privilege or other agreement, in which solely one party (company, cartel etc.) exclusively provides a particular product or service, dominating that market and generally exerting powerful control over it.Įtymology: From monopolium, from μονοπώλιον, from μόνος + πωλέω.Īn exclusive control over the trade or production of a commodity or service through exclusive possession.Ī land monopoly renders its holder(s) nearly almighty in an agricultural society