Monopoly
Re: Monopoly
A monopolistic market is one which is characterized by the presence of only a single seller which may happen on account of certain market barriers like regulatory, technical or economic barriers. The monopolist can fix the price rate at his discretion as there are no other competitors. Eg. The Indian Railways in India has been exercising monopoly over the railway industry.This type of market is generally seen to be controlled by the government and is a prominent feature of the socialist economy which prevailed a while ago in USSR and the Middle-East.