Definition of “natural monopoly” - English Dictionary

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“natural monopoly” in Business English

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natural monopolynoun [ C or U ]

uk us ECONOMICS, COMMERCE

a situation in which one company is able to supply the whole market for a product or service more cheaply than two or more companies could:

Technology has moved on, turning what was once a natural monopoly into a potentially competitive market.

(Definition of “natural monopoly” from the Cambridge Business English Dictionary © Cambridge University Press)