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: -Today, government-granted monopolies may be found in public utility services such as public roads, mail, water supply, and electric power, as well as certain specialized and highly regulated fields such as education and gambling.

Detailed explanation-4: -Government corporations do not belong to any department-they stand on their own. Probably the best-known government corporations are the United States Postal Service and Amtrak. They are different from other agencies in that they are businesses created by Congress, and they charge fees for their services.

Detailed explanation-5: -The U.S. Postal Service is an example of a government corporation. The General Services Administration is an example of an executive agency. How many cabinet departments are there?