What Is Meant By Monopolistic?
The term monopolistic is commonly used to describe the form of market. A monopolistic competition is the form of market where there are many producers and consumers. In this market the businesses do not have a complete control over the market. In this market there are non-price differences among the competitive products. There are few entry and exit barriers in monopolistic form of market. Moreover, producers have more control over the prices of manufactured goods. Examples of monopolistic markets include restaurants, clothing, shoes, and cereals etc.
