In a natural monopoly, a producer controls the market because it is able to meet the demands of all consumers.
In a government monopoly, a producer controls the market by the authority of the government, and private production cannot take place.
In a technological monopoly, a producer controls the market by holding a patent on the process of creating a specific good.
Explanation:
natural monopoly: exists due to the high start-up costs or powerful economies of scale of conducting a business in a specific industry. A producer might be the only provider or a product or service in an industry or geographic location.
government monopoly: A forced form of market domination whereby a national, regional or local administration, agency or corporation is the sole provider of a particular good or service and competition is prohibited by law. A government monopoly is generally created and run by a government, rather than by a private business.
technological monopoly, a producer controls manufacturing methods necessary to produce a certain product, or has exclusive rights over the technology used to manufacture it.
This is a good example of generative concern. Generative concern is the tendency to care for younger people.
It is a concern that stems from the tendency to guide the next generation. Even though Ben on his own does not have that interest to help her improve her skills, he is well pleased and satisfied whenever she performs well in her basketball games.
