but, steam does not fit the definition of a monopoly under US law, as that would require them to have “restricted commerce or trade” to achieve their dominant market position.
The word for a market dominated by only a few very large players is oligopoly, not… polyopoly.
Not saying you’re saying that, just saying.
…
As to the etymology…
Its derives from Greek.
A monopoly has one (mono) influential seller for many (poly) consumers.
An oligopoly has a few, wealthy (oligo, as in oligarch, oligarchy) sellers for many (poly) consumers.
Importantly, in Greek, poly is closely related to polis, meaning basically ‘all of the people/citizens’.
This is also where English gets ‘Politics’ from.
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Also, I wrote a whole other comment, but the mere existence of any competitors, no matter how small… doesn’t mean you aren’t a monopoly.
Its just means you aren’t a perfect monopoly, which basically never exists in real life, outside of public utilities.
If the rubric for ‘is it a monopoly?’ was ‘do any competitors exist?’, then basically no company that’s ever been broken up or regulated for being a monopoly was actually a monopoly.
Mono means one.
There are multiple (more than one) other stores available.
Mono does mean one, but that’s not the legal definition of a monopoly.
I was simplifying it for OP.
I’m also not a lawyer.
but, steam does not fit the definition of a monopoly under US law, as that would require them to have “restricted commerce or trade” to achieve their dominant market position.
poly means many
so if both mono and poly are in monopoly, why do you only pick mono, or why does only mono matter here?
The word for a market dominated by only a few very large players is oligopoly, not… polyopoly.
Not saying you’re saying that, just saying.
…
As to the etymology…
Its derives from Greek.
A monopoly has one (mono) influential seller for many (poly) consumers.
An oligopoly has a few, wealthy (oligo, as in oligarch, oligarchy) sellers for many (poly) consumers.
Importantly, in Greek, poly is closely related to polis, meaning basically ‘all of the people/citizens’.
This is also where English gets ‘Politics’ from.
…
Also, I wrote a whole other comment, but the mere existence of any competitors, no matter how small… doesn’t mean you aren’t a monopoly.
Its just means you aren’t a perfect monopoly, which basically never exists in real life, outside of public utilities.
If the rubric for ‘is it a monopoly?’ was ‘do any competitors exist?’, then basically no company that’s ever been broken up or regulated for being a monopoly was actually a monopoly.
Because that’s the way i decided to dumb it down. Apparently it wasn’t dumbed down enough.