Introduction to Monopoly

What you’ll learn to do: describe characteristics of a monopoly

3 images: google search engine screenshot, TV remote showing Netflix button, and Budweiser advertisement

Businesses love the idea of a free-market economy, so why then, would a business want to become a monopolist? Just think…if a business can control the entire market for a product, then they eliminate competition and are almost guaranteed a profit. In this section, you’ll learn about what a monopoly is and why firms try to eliminate their competition.