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.
…
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.
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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.
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.
I was simplifying it for OP.
I’m also not a lawyer.
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.