BUISENESS MANAGEMENT
BUSINESS STRUCTURE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A monopoly that is based on the ownership or control of a manufacturing method, process, or other scientific advance is a
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geographic monopoly
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natural monopoly
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government monopoly
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technological monopoly
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Explanation:
Detailed explanation-1: -Technological Monopoly-A monopoly that is based on ownership or control of a manufacturing method, process, or other scientific advance.
Detailed explanation-2: -What is a Technology Monopoly? Facebook, Telus, Google, Rogers, Microsoft, Amazon-you have heard their names and you might even use them on a day to day basis. Raking in billions of consumer dollars each year, these tech giants have dominated the global market.
Detailed explanation-3: -There are seven types of monopoly market structures namely simple monopoly and discriminating monopoly, natural monopoly, legal monopoly, pure monopoly, imperfect monopoly, industrial monopolies or public monopolies.
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