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Joined 2 years ago
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Cake day: June 21st, 2023

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  • Yes, when an entity creates an unreasonable restraint of competition in the market. As Steam has an overwhelming control of the market that absolutely qualifies. Also I’m going to go ahead and quote the rest since you left it out for some reason. Probably because it was devastating to your argument.

    A monopoly is when a single company or entity creates an unreasonable restraint of competition in a market. The term “monopoly” is often used to describe instances where there is a single seller of a good in a market. In a legal context, the term monopoly is also used to describe a variety of market conditions that are not monopolies in the truest sense. For instance, the term monopoly may be referring to instances where:

    • There are only two sellers of a given good (duopoly)
    • There are very few sellers of a given good (oligopoly)
    • There is a single buyer of a given good (monopsony)
    • There are only two buyers of a given good (duopsony)
    • There are very few buyers of a given good (oligopsony)
    • There are many buyers or sellers, but one actor has enough market share to dictate prices (near monopolies)

    In essence, the term monopoly may be used any time that a market for a good is controlled by a limited number of actors.