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Add a 2-3 sentence introduction starting with e.g. "Monopoly is a practice in which businesses ... When writing the article, insert text in the space below this box, and then delete this tip box (and the other tip boxes below). In the visual editor, just click on a box and press backspace to delete it. In the source editor, simply delete the double curly brackets, and the text inside them.
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A monopoly is a market in which there exists only a single supplier of a certain good or service.
How the practice works.
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If the theme or common term is positive for the consumer this section can be omitted.
Point 1
Point 2
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A monopolistic market is often harmful to consumers. A monopoly inherently does not have competition, since there is no other party to compete. The monopoly can therefore fix prices as they wish, with no one to compete for lower prices. This often leads to ridiculously high prices and is harmful to consumers.
Some examples of Monopoly include:
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Ticketmaster is often referred to as a monopoly of live events.
