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2.5.4 Monopoly and oligopoly
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Monopoly: one dominant seller

Monopoly: one dominant seller

Spider diagram showing the features of a non-competitive market, including few or one seller, high barriers to entry and price-maker firms.

A monopoly is a market supplied by a single seller, or by one seller so dominant that buyers have no real alternative. A monopolist is usually a price maker because it has enough market power to choose its price rather than simply accepting the market price.

2.5.4 Monopoly and oligopoly Lesson

  1. GCSE
  2. /Economics
  3. /2.5.4 Monopoly and oligopoly

Step-by-step lessons on OCR GCSE Economics 2.5.4 Monopoly and oligopoly. Each one builds up to exam-style questions. Build a solid grasp of supply and demand and cost/revenue calculations before tackling the evaluation-heavy policy topics.

Lessons