Market dominance refers to a situation where a company or brand holds a significant share of the market, allowing it to influence prices, supply, and consumer choices. This dominance can result from various factors, including superior products, effective marketing strategies, or economies of scale. Companies like Apple and Amazon are often cited as examples of market dominance in their respective industries. When a business achieves market dominance, it can create barriers for new competitors, making it challenging for them to enter the market. This can lead to reduced competition, which may affect innovation and pricing. Regulatory bodies, such as the Federal Trade Commission, often monitor market dominance to ensure fair competition and protect consumer interests.