Question

what is monopoly example 2 Mark question​

Answer 1

Answer:

Microsoft and windows

Answer 2

Answer:

Monopoly:

"Monopoly is a firm who is the sole seller of its product, and where there are no close substitutes. An unregulated monopoly has market power and can influence prices."

Examples:

1)Microsoft and Windows, DeBeers and diamonds, your local natural gas company.

2)Examples of pure monopolies and “near monopolies”: Public utilities—gas, electric, water, cable TV, and local telephone service companies—are pure monopolies. First Data Resources (Western Union), and the DeBeers diamond syndicate are examples of “near” monopolies.