The main characteristics of a pure monopoly are a single seller, no close substitutes, a price maker, blocked entry, and non-price competition.
A market arrangement in which there is just one single seller and only one type of good available. As the only vendor of the goods with no viable alternatives, the seller in a pure monopoly has no rivals.
A market with a monopoly is one where there is only one supplier of goods. A monopoly is a type of market in which there is only a single seller of a good and that seller has complete control over the price.
Few companies sell homogenous or differentiated items in this sector. Additionally, because there aren't many vendors in the market, each vendor influences the actions of other vendors, who in turn affect them.
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