(economics) a market in which there are many buyers but only one seller; “a monopoly on silver”; “when you have a monopoly you can ask any price you like”

Regulated monopolies are still very plentiful. Examples of regulated monopolies would be electric utilities, cable companies, phone companies……where you have to choose one company based on where you live. Regulated monopolies are regulated by an outside agency that sets rates and tries to ensure the companies don’t take advantage of their customers. Some areas have tried to introduce competition into regulated monopolies with mixed results, so the jury’s still out on if they are a good idea or not. Texas has deregulated electric utilities but people have not seen their rates come down all that much, and it can make things really complicated, as this article discusses: http://www.chron.com/disp/story.mpl/business/steffy/5134025.html

total control of a commodity, service or means of production. can be an exclusive right/or privilege granted by a government, of buying, selling, making or using anything

AT & T….BAD its basically when a company has very little competition and whatever is left is having to shutdown…