2. MONOPOLY
โข A Monopoly is a Greek word, mono means โ single โ
and poly means โ to sell โ.
โข A Monopoly is a market structure in which there is
only one seller or producer of the product .
โข Example โ Boeing aircraft company .
4. BARRIERS TO ENTRY
โข Natural Barriers โ Firm has unique ability to produce what
other firms canโt duplicate .
โข Technological Barriers โ Size of Market support only 1 firm
โข Sociological Barriers โ Entry is prevented by custom or tradition
โข Government Barriers โ Government policies also affect entry of
new firms