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monopoly
by 趙永祥 2015-05-16 06:45:56, Reply(0), Views(413)



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Term of the Day

Date: Thursday, May 14, 2015

monopoly

Market situation where one producer (or a group of producers acting in concert) controls supply of a good or service, and where the entry of new producers is prevented or highly restrictedmonopolist firms (in their attempt to maximize profits) keep the price high and restrict the output, and show little or no responsiveness to the needs of their customers. Most governments therefore try to ...
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Usage Example
When I play the game Monopoly I always try and buy the most expensive properties so when the other players land on that space they have to pay me money.