Exclusive control by one group of the means of producing or selling a commodity or service
There is one of that product/service so they can charge what ever they want with out worrying about...
A "monopoly" is the control of a commodity or service by one group (usually a small number of companies) so that they control the available supply - they can profit because they can charge whatever...
a monopoly is owning everything. for example for laptops, there are many brands, but lets say Dell bought all of the other companies so Dell is the only laptop manufacturer. Then if you wanted a...