A monopolist is an individual, group or company that dominates and controls the market for a particular product or service.
This lack of competition and lack of substitute goods or services means that the monopolist has enough power in the market to charge high prices.
While being the sole or dominant player in a sector is not in itself illegal, it can lead to government sanctions if the monopolist’s behavior begins to severely restrict the free market.
The United States government regulates unfair competition by enforcing antitrust laws that limit monopolies and protect consumers from predatory business practices.
Some monopolies are legal and sanctioned by the government, such as companies in the utility sector.
The Katie Couric clause was a slang term used to describe a proposed Securities and Exchange Commission rule regarding disclosure of executive compensation and compensation of other elected employees.
Billionaire Warren Buffett (who lives and works in Omaha, Nebraska) is known as the Oracle of Omaha, a nickname he earned as one of the world’s most successful and watched investors.
Robber baron is a term often used in the 19th century during America’s Golden Age to describe successful industrialists whose business practices were often considered ruthless or unethical.
The 90/10 retirement investment strategy involves investing 90% of investment capital in low-cost S&P 500 index funds, and the remaining 10% in short-term government bonds.
The chi-square statistic (χ2) is a measure of the difference between the observed and expected frequencies of the outcomes of a set of events or variables.
The chief operating officer (COO) is the senior officer tasked with overseeing the day-to-day administrative and operational functions of the business.