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Captive markets are markets where the potential consumers face a severely limited number of competitive suppliers; their only choices are to purchase what is available or to make no purchase at all.Captive markets result in higher prices and less diversity for consumers. [citation needed] The term therefore applies to any market where there is a monopoly or oligopoly.

captive market: Potential customers who are constrained to purchase a good or service from a particular supplier because of (1) shortages, (2) competitors' high prices, (3) lack of competition, (4) unique feature or benefit of the item, or (5) the seller owning the buying entity.

Something similar to this monopoly market is the captive market. An interesting feature of captive market is that although there is no natural monopoly, yet consumers have little choices in front of them and end up taking the product from the one and only seller; thereby being a part of the artificial monopoly.

Captive market definition: a group of consumers who are obliged through lack of choice to buy a particular product,...