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.
The first meeting of the South Carolina Assembly in the Charleston State House occurred in 1756. In 1786 the South Carolina Assembly voted to move the state capital to columbia a more geographically, centralized location.
