A 'bilateral monopoly' occurs when there's one supplier and one buyer in a market

A 'monopsony' is a market with a single buyer—rather than a single supplier

A monopsony is the demand-side equivalent of a monopoly, where a single buyer commands a market. In a monopsony, the buyer has an outsized influence over the price of a product or service because they control most or all of the sales in that market.

An overview of monopolies, when one company controls an entire market

In the business world, a monopoly exists when one company controls the entire market. Regulators take issue with monopolies because they have been found to limit consumer choices, raise prices, and hurt competition.

Market concentration and high markups don't always signal a monopoly

When regulators and economists evaluate whether a company constitutes an illegal monopoly, they often consider its overall market share or its relatively high price markups. This piece argues that the Olley-Pakes decomposition is a better measure, identifying whether customers within a market are switching to more productive companies.

Monopolies are considered the most extreme form of imperfect competition

True monopolistic companies face no competition, meaning there aren't any near substitutes for the goods or services the company provides. Often, no competition exists because the monopoly is either approved by the government or the barrier to entry is costly.

Network effects are the economic term for a good or service's popularity

When goods or services become especially popular, firms that provide that good or service become dominant in the market—which can ultimately lead to a monopoly.

Modern examples of oligopolies include the airline industry

An oligopoly is a market structure dominated by a few key suppliers. In the US, as of 2021, just four airlines (Delta, United, Southwest, and American) controlled nearly two-thirds of all domestic flights, making the US airline industry one example of an oligopoly.

Utility companies are often considered 'natural' monopolies

Natural monopolies occur in industries where the upfront costs of entering the market are high, making competition unrealistic. Investor-owned power companies, like Duke Energy, often have natural monopolies, as building alternative power grids and transmission lines is too expensive and impractical for competitors.

Robber barons, the monopolistic business people of the 19th century, explained

“Robber baron” was a term used to describe 19th-century businesspeople who engaged in monopolistic business practices and didn’t face much business regulation, resulting in significant wealth.

Patents arguably grant inventors monopolies for a short period of time

As a way to reward innovation, the government grants short-term monopolies on patented products. Patents block other companies from producing or selling that product, giving inventors the rights and opportunity to establish themselves in a market before other competitors enter.

Learn more about the four main market structures

In modern economic theory, there are four main market structures. Under each market structure, firms (or businesses) have differing levels of competition and reach different levels of price efficiency based on the consumer's willingness to pay for a product or service.

Dual-class stock structures separate equity and decision-making authority

In the past few decades, dual-class stock structures have become an increasingly popular way for companies to raise capital in public markets without allocating traditional shareholder voting rights. Meta, Estée Lauder, and The New York Times are companies that are famously dual-class.

Understanding the differences between capitalism and socialism

The two economic systems are rarely found in their pure form. Capitalism emphasizes private property, capital accumulation, and limited government regulation, while socialism favors government control of production to meet the needs of everyone rather than to generate profit. Most economies are a mix of both.

'Buy one, get one free' is often a clever way to get you to spend more money

One Burger King diner recently saw the price of her $2.16 sandwich rise to $3.19 per sandwich when she used a buy-one-get-one-free (or BOGO) coupon. Naturally, she became suspicious about how good a deal BOGO really is. This video explains why BOGO deals are a way for companies to get you to spend more money, rather than less.

British economist John Maynard Keynes originally proposed a global currency called the bancor

Keynes—one of the chief architects of the Bretton Woods system—proposed establishing a global central bank that would issue a new international currency, the bancor, to settle trade imbalances. The idea was rejected in favor of the US dollar serving as the main currency of the international system.

Over-the-counter markets are used to bypass traditional exchanges while trading

Commodities are regularly traded via OTC markets so that buyers and sellers can bypass central exchanges and negotiate terms more directly. Before the advent of formal exchanges, most assets were traded OTC.

Private equity firms often use leveraged buyouts to acquire new companies

In a leveraged buyout or "LBO," private equity funds finance acquisitions with debt secured by the target company's assets and cash flows. The PE firm aims to improve operations and leverage the company's profile to pay down debt, thereby increasing equity value.

Warren Buffett wrote a letter on why a seller should sell his business to his firm

In Berkshire Hathaway's 1990 Annual Letter, Warren Buffett included an edited version of a letter he sent to a man who indicated he might want to sell his family business. This short letter is a masterclass in selling and differentiating your product from the competition.

How do tariffs work?

This brief animated video from Time walks through a simple example of a tariff on a single good, illustrating how this would affect the market for the good—both domestically and abroad—and who would eventually bear the cost of the tariff.

Labor unions, explained

The weekend is one of many benefits shaped by labor unions. These organizations, representing millions of workers, have influenced much of modern work life, from wages to safety standards. With roots stretching back to the 18th century, unions have long been at the center of change in labor rights.

From 1989 to 2022, Anheuser-Busch had exclusive alcohol ad rights to the Super Bowl

That meant if an alcohol company was not owned by Anheuser-Busch (and later after the merger, AB InBev), it could not advertise during the Super Bowl. This monopoly was part of how Budweiser became known for its Clydesdale Super Bowl ads.

High demand forces H-1B visas into a lottery system each year

Because demand far exceeds the annual cap—65,000 new visas plus 20,000 for US master's graduates—employers must enter a lottery for new H-1B slots. In recent years, several hundred thousand petitions have competed for just 85,000 openings.

The United States is one of only around two dozen countries with a fully federal system of government, in which power is divided between national and state governments.

Local governments borrow money for long-term projects by issuing municipal bonds

When a city needs to build a school, a road, or a water treatment plant, it usually issues a municipal bond—borrowing money from investors to be paid back over time. The market for these bonds now exceeds $4T.

Brain wave-reading earbuds are being used by companies to study workplace performance

Limited safeguards prevent governments from accessing and companies from sharing brain data. Foreign governments may also be developing technology to spy on and potentially disrupt human thoughts.

Jobs that marry each other the most

Out of all married physicians, roughly one in five is married to another physician. The trend extends beyond the medical field. Some professionals are more likely to marry one another than others. Find out which jobs most often pair together among married couples with this interactive tool based on estimates from the American Community Survey. Click here to type in your profession and see your most likely match.

Broadway employs tens of thousands of people in various roles

While we often just think of the actors and directors who take top billing, Broadway productions operate as distinct businesses employing numerous people in various roles: stage managers, sound designers, house managers, ushers and more.

How Amazon operates a 'flywheel' business model, a self-reinforcing cycle that drives continuous growth

Gerrymandering works through two techniques: cracking opposing voters across districts to dilute their power, and packing them into a few to waste their votes in lopsided majorities.

Learn how monoclonal antibodies, which mimic the body's antibodies, can fight diseases like Ebola.

An initial public offering or 'IPO' is the process of a private company becoming public by putting shares of the company on the stock market for purchase.

For centuries, it was common to sleep in two shifts: a few hours at the beginning of the night, and a longer period beginning around midnight

While the sun's gravity keeps the planets in orbit, their gravity also pulls on the sun, causing it and everything else in the solar system to orbit around a mutual balance point called the barycenter—the true center of the solar system.

Roughly 43 million US borrowers owe roughly $1.7T in student debt, the second-largest source of consumer debt behind mortgages.

About 2,000 US babies are born annually without some portion of their limbs, potentially leading to a lifetime of pricey prosthetics.

The hormonal disorder PCOS was renamed PMOS in 2026, a move designed to improve care and research by shifting the focus to the hormonal causes of this condition that affects 1 in 8 women.

Browse a detailed visual analysis of over 200,000 similes—comparisons that often use 'like' or 'as'—from popular fiction to see how frequently writers the same idiomatic expressions.

Art theft is the third-largest source of criminal revenues worldwide, thanks in part to the subjective nature of valuing a work of art.

Existentialist writer Jean-Paul Sartre coined the famous phrase 'Hell is—other people' in his play 'No Exit'

Budweiser stores yeast derived from the original 1800s strain in a secret bunker, which only the Head of Yeast Management can access—not even the CEO

While atoms are normally made of protons, neutrons, and electrons, exotic ones have been built with antimatter—alternate versions of normal matter that live for fractions of a second and are about a billion times as rare.

In 2025, four executives from large tech companies were given positions in the US Army Reserves—including Palantir Chief Technology Officer Shyam Sankar, which reinforced Palantir's ties with the US military and its role as a leading defense partner.

Warren Buffett's former professor Benjamin Graham is known as the 'father of value investing,' a strategy in which investors seek to buy stocks trading below their intrinsic worth.

The Great Salt Lake's distinct dual coloration results from high-salinity organisms that only live in the northern portion and produce a purple protein.

Mid-century modern graphic designers, known for their bright colors and bold lines in advertising, also found success with children's books.

Domino's Pizza's 30-minute delivery guarantee was responsible for the chain's 1980s surge, but it was discontinued after the company was found liable for delivery driver accidents.

The first image of a black hole was captured by creating an Earth-sized virtual observatory from a network of eight radio telescopes.

The 1987 Nintendo video game 'Stadium Events' isn't known for being particularly fun, but its scarcity has made it a highly sought-after item that has sold for up to $35K at auction.

Louisiana's 'Cancer Alley' is infamous for having some of the highest industrial pollution, toxic air emissions, and cancer risks in the US.

The syncytiotrophoblast is the outer layer of the placenta and the largest human cell, spanning an area about twice that of a king-sized bedsheet.

Double world record holder Hunter Ewen helped conquer his fear of balloons, called globophobia, by training to win Guinness World Record titles for balloon inflation.