Examlex
A ceremonial observation of a prescribed rule or custom is called a _________.
Monopoly Firm
A business that is the sole provider of a good or service in a market, facing no competition, which can lead to higher prices and inefficiencies.
Barrier to Entry
Factors or conditions that prevent new competitors from easily entering an industry or area of business.
Red Beryl
A rare mineral that is red in color and is composed of beryllium, aluminum, and silicate.
Monopoly Power
The ability of a single seller in a market to control the prices of goods or services, usually due to lack of competition.
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