This article is written by Sushant Shetty.
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| Result of Monopoly: It's not a recession, it's a robbery |
Monopoly is an expression employed by economists to refer to the situation in which there is a single seller of a product (i.e., a good or service) for which there are no close substitutes. The word is derived from the Greek words monos (meaning one) and polein (meaning to sell). Governmental policy with regard to monopolies (e.g., permitting, prohibiting or regulating them) can have major effects not only on specific businesses and industries but also on the economy and society as a whole.
Large monopolies have substantial potential to
