What is Monopoly? | From A Business Professor

Hello everyone, welcome to Business School 1o1. Imagine a world where you could only buy your groceries from one store. What if every time you picked up your phone, you were charged by the same company? This is the world of monopolies. Monopoly is one of the most critical terms in economics and management. So what is Monopoly? What are its features? Are there some real world examples? What are its influences to the consumers and market? In this video. I will discuss these questions with you.