trade monopoly

A trade monopoly occurs when a single company or entity dominates a market by being the only provider of a particular product or service, or by controlling a significant portion of it. This dominance allows the monopolist to set prices, limit competition, and control supply, leading to reduced options for consumers. While a monopoly can lead to efficiencies and innovation in some cases, it often leads to higher prices and lower quality for consumers, as the lack of competition reduces the incentive to improve products or services. Monopolies can arise naturally but are often regulated by governments.