What is total dominance?

Total dominance refers to the phenomenon where a single individual or group has complete control over a particular market or industry. Total dominance occurs when a company or a group of companies are so large and powerful that they can effectively control prices and exert significant influence over suppliers and buyers. This type of dominance can create barriers that prevent other smaller competitors from entering the market, leading to reduced competition and potential negative impacts on consumer choice and pricing.

Total dominance is a common concern in industries where there are high levels of concentration, such as the telecommunications and banking industries. Regulators may attempt to limit total dominance through antitrust laws, which are designed to promote fair competition and prevent monopolistic practices. However, these laws can be difficult to enforce and may not effectively counteract the effects of total dominance.