Market Dominance

Increasing Returns to Scale
A characteristic of a production process that becomes more efficient at larger levels of output. The marginal cost of producing each additional unit decreases, often due to high fixed costs relative to marginal costs.
Perfect (Pure) Monopoly
A Perfect (Pure) Monopoly is a market structure dominated by a single producer, where no competition of any kind to that producer can arise, allowing them to exert significant control over prices and output.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.