ECONOMICS
COMPETITION AND MARKET STRUCTURES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Natural Monopoly
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Geographic Monopoly
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Government Monopoly
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Technological Monopoly
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Detailed explanation-1: -Public monopolies provide essential services and goods, such as the utility industry as only one company commonly supplies energy or water to a region. The monopoly is allowed and heavily regulated by government municipalities and rates and rate increases are controlled.
Detailed explanation-2: -Public utilities: gas, electric, water, cable TV, and local telephone service companies, are often pure monopolies.
Detailed explanation-3: -Some of the monopoly shares in India are IRCTC, HAL, Nestle, Coal India, Hindustan Zinc, ITC, Marico (Oil Products), Pidilite, Concor, and Bhel.
Detailed explanation-4: -Natural Monopoly. Only one company providing a public good or service. Technological Monopoly. When a single firm has exclusive rights over the technology used to manufacture it. Geographic Monopoly. Government Monopoly. Least Threat: Four Types of Monopolies.