Monopoly occurs when there is no competition and then the supplier has a very high amount of pricing power. In addition, monopoly also is a situation in which a single organization or group possesses all or nearly all of the market for a given type of product or service. Besides, it also includes several characteristic, example and diagram in monopoly market. In addition, there are four common types in competition free market which is ideal competition, monopolistic competition, oligopoly and monopoly. There will vary interpretation, features and illustrations in these four common types in market. Monopoly A monopoly is when there are many potential buyers but there is merely one seller that regulates the way to obtain a product and its price.
The measurement of something from end to end is the simplest definition if you want to know what is length. It could also be defined as the greater dimension of two or greatest among three of an object.
What is length – Researches and Approaches
To know measurements continues to be an interesting activity for humans ever since they settled from the nomadic lifestyles. They remain eager to know what is length and breadth of the land they occupy. They are keen to measure the buildings they own and quantify the material that is used to build them. The distance from one trading post to another is also an attraction to find the shortest possible and the most lucrative route. They are curious to know the heights of people, objects and mountains. To quench this thirst, they researched and devised some standards for complex measurements and to determine what is length.