Answer:
Monopolies limits competition in the market.
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.
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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 answer is "it is called as Catastrophic Event".
Catastrophic Event refers to any characteristic or man-made occurrence, including fear based oppression, which brings about phenomenal levels of mass setbacks, harm, or interruption extremely influencing the populace, framework, condition, economy, national resolve, and additionally government capacities.
I'm not sure but, If I had to guess it would be d
Slow down and be prepared to stop if necessary.
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