When a firm possesses unique characteristics so important to competition in its industry that they form barriers to prevent entry by would-be competitors,a pure monopoly occurs.

Pure Monopoly

A market structure where a single entity controls the entire supply of a product or service, with no close substitutes available.

Barriers

Refers to obstacles or impediments that hinder progress or the achievement of an objective.

Unique Characteristics

Distinctive attributes or features that set something apart from similar entities.