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When a market's potential profit is so limited by its geographic location that only a single seller decides to enter the market. That type of market is a geographic monopoly. An example would be a general store in a remote community.
The Meralco Electric Company is a perfect example of monopoly in the Philippines
The difference between the term 'monopoly' and 'natural monopoly' is a monopoly is a market situation one group controls the availability and price of a service or item. A natural monopoly is a service or item that is provided by a single sorce. An example would be transportation like buses, or taxies.
Mono refers to one. A monopoly means that one person or on family possesses or own everything or many businesses.
One business would control an entire industry
When a market's potential profit is so limited by its geographic location that only a single seller decides to enter the market. That type of market is a geographic monopoly. An example would be a general store in a remote community.
state
Tesco is a fine example of a monopoly in the UK
Meralco :)
Petroleum Company
One example of a geographical strait is the Strait of Gibraltar, located between southern Spain and northern Morocco. It connects the Atlantic Ocean to the Mediterranean Sea and is an important shipping route.
The Meralco Electric Company is a perfect example of monopoly in the Philippines
A geographical globe.
The difference between the term 'monopoly' and 'natural monopoly' is a monopoly is a market situation one group controls the availability and price of a service or item. A natural monopoly is a service or item that is provided by a single sorce. An example would be transportation like buses, or taxies.
Mono refers to one. A monopoly means that one person or on family possesses or own everything or many businesses.
One business would control an entire industry
Deserts