is a market form in which a market or industry has sufficient control
over a particular product or service to determine significantly the terms on
which other individuals shall have access to it.
Oligopoly
is a market form in which a market or industry is dominated by a few sellers.
Example:
The US beer market can be viewed as a kind of oligopoly.
Monopsony
is a market form in which one buyer faces many sellers.
Example:
Wal-Mart can be viewed as a kind of monopsony.
Cartel
A cartel is a formal agreement among competing firms to coordinate prices, marketing and production.
They usually occur in an oligopolistic industry.
Example:
OPEC (Organization of the Petroleum Exporting Countries) is a cartel.
Families and Monarchies
These two groups can have their hands in any type of these monopolies.
All are characterized by a lack of competition for their
goods or services and they gain greater market share and profits than what is
expected under competition.