Monopolies are quite common in business. If you offer a product or service that no one else has, then you possess a monopoly. In time, competitors probably will aim to match or improve upon your ...

Businesses of all sizes, including small businesses, can benefit from a basic understanding of specific economic concepts. Beyond the basic concepts of supply and demand, a small business owner must ...

Andriy Blokhin has 5+ years of professional experience in public accounting, personal investing, and as a senior auditor with Ernst & Young. Erika Rasure is globally-recognized as a leading consumer ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Timothy Li is a consultant, accountant, and ...