ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The United States Postal Service is the example of a government monopoly. It was created through laws that ban potential competitors from offering certain types of services, such as first-class and standard mail delivery.

Detailed explanation-2: -With a few minor exceptions, the United States Postal Service enjoys a legal monopoly in the delivery of letters. Under the Private Express Statutes, private letter carriers are subject to fines and/or imprisonment.

Detailed explanation-3: -A government-created monopoly is the sole supplier of certain goods or services, and competition is prohibited by law. An example of a government monopoly is the United States Postal Service.

Detailed explanation-4: -Considered the “granddaddy of government corporations"; example of a government corporation. One of the original cabinet departments, has become the government’s largest corporation: the U.S. Postal Service. Example of a government corporation.

Detailed explanation-5: -In economics, a government monopoly or public monopoly is a form of coercive monopoly in which a government agency or government corporation is the sole provider of a particular good or service and competition is prohibited by law. It is a monopoly created, owned, and operated by the government.