Search results
Results From The WOW.Com Content Network
A state monopoly can be characterized by its commercial behavior not being effectively limited by the competitive pressures of private organisations. [1] [2] This occurs when its business activities exert an extensive influence within the market, can act autonomously of any competitors, and potential competitors are unable to successfully compete with it.
A monopoly has considerable although not unlimited market power. A monopoly has the power to set prices or quantities although not both. [37] A monopoly is a price maker. [38] The monopoly is the market [39] and prices are set by the monopolist based on their circumstances and not the interaction of demand and supply. The two primary factors ...
In economics, a government-granted monopoly (also called a "de jure monopoly" or "regulated monopoly") is a form of coercive monopoly by which a government grants exclusive privilege to a private individual or firm to be the sole provider of a good or service; potential competitors are excluded from the market by law, regulation, or other mechanisms of government enforcement.
Central place theory is an urban geographical theory that seeks to explain the number, ... (each supplier has a monopoly over a hinterland) ... Examples for low order ...
For example, there are many brands of chocolate with nuts and others without them. Hence, the chocolate with nuts is a constraint of its product characteristic space. On the other hand, consumers in location models display preference for both the utility gained from a particular brand's characteristics as well as its geographic location; these ...
The process known as geographic market allocation is one of several anti-competitive practices outlawed under United States antitrust laws. The term is generally understood to include dividing customers as well. The competitors who agree to this type of arrangement will often reject business from customers in another's territory.
Moreover, monopoly can be a result of geographical conditions created by huge distances or isolated locations. This leads to a situation where there are only few communities scattered across a vast territory with only one supplier. Australia is an example that meets this description. [18]
It is the intersection of a relevant product market and a relevant geographic market. The European Commission defines a relevant market and its product and geographic components as follows: [ 1 ] A relevant product market comprises all those products and/or services which are regarded as interchangeable or substitutable by the consumer by ...