3.8.2 - Monopoly markets
Unit 3.8.2 - Monopoly marketsThis section of the Cambridge IGCSE (0455) Economics syllabus requires students to understand the characteristics, advantages, and disadvantages of monopoly.Note: diagrams are not required.There is no universally accepted definition of a monopoly, and the legal definition can vary from country to country. However, in its most simplistic state, monopoly describes a market structure in which...
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