Monopoly: Difference between revisions

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===Key characteristics===

*;'''Single producer'''

::The market consists of only one company supplying the entire market demand.<ref>{{Cite web |last= |first= |date= |title= |url=https://penpoin.com/monopoly/ |website= }}</ref><ref>{{Cite web |last= |first= |date= |title= |url=https://www.vedantu.com/commerce/monopoly-market |website= }}</ref>

::The market consists of only one company supplying the entire market demand.<ref>{{Cite web |last=Nasrudin |first=Ahmad |date=January 22, 2025 |title=Monopoly: Meaning, Examples, Characteristics, Causes, Advantages, Disadvantages |url=https://penpoin.com/monopoly/ |website=penpoin.com}}</ref><ref>{{Cite web |last=Tiwari |first=Dimple |date= |title=Monopoly Market: Features and Examples |url=https://www.vedantu.com/commerce/monopoly-market |website=vendantu.com}}</ref>

*;'''No close substitutes'''

::Consumers have no alternative products that can satisfy the same need.<ref>{{Cite web ~~|last= |first=~~ |date= |title= |url=https://economictimes.indiatimes.com/definition/monopoly?from=mdr |website= }}</ref>

::Consumers have no alternative products that can satisfy the same need.<ref>{{Cite web |date= |title=What is 'Monopoly' |url=https://economictimes.indiatimes.com/definition/monopoly?from=mdr |website=economictimes.indiatimes.com}}</ref>

*;'''High barriers to entry'''

::Significant obstacles prevent competitors from entering the market.

@@ Line 27: / Line 27: @@
 ===Key characteristics===
 *;'''Single producer'''
-::The market consists of only one company supplying the entire market demand.<ref>{{Cite web |last= |first= |date= |title= |url=https://penpoin.com/monopoly/ |website= }}</ref><ref>{{Cite web |last= |first= |date= |title= |url=https://www.vedantu.com/commerce/monopoly-market |website= }}</ref>
+::The market consists of only one company supplying the entire market demand.<ref>{{Cite web |last=Nasrudin |first=Ahmad |date=January 22, 2025 |title=Monopoly: Meaning, Examples, Characteristics, Causes, Advantages, Disadvantages |url=https://penpoin.com/monopoly/ |website=penpoin.com}}</ref><ref>{{Cite web |last=Tiwari |first=Dimple |date= |title=Monopoly Market: Features and Examples |url=https://www.vedantu.com/commerce/monopoly-market |website=vendantu.com}}</ref>
 *;'''No close substitutes'''
-::Consumers have no alternative products that can satisfy the same need.<ref>{{Cite web |last= |first= |date= |title= |url=https://economictimes.indiatimes.com/definition/monopoly?from=mdr |website= }}</ref>
+::Consumers have no alternative products that can satisfy the same need.<ref>{{Cite web |date= |title=What is 'Monopoly' |url=https://economictimes.indiatimes.com/definition/monopoly?from=mdr |website=economictimes.indiatimes.com}}</ref>
 *;'''High barriers to entry'''
 ::Significant obstacles prevent competitors from entering the market.