civ·ics
[ˈsiviks]
NOUN
BRITISH
the study of the rights and duties of citizenship.
synonyms:
political science · statecraft · statesmanship · polity
Natural monopolies and the reason to exist in the free market system
Explanation:
In a natural monopoly when a market can supply goods or the cost of the goods can be lowered in competition with the potential competitor then it is called as natural monopoly. In a market when the first supplier of the product is demanding more cost or raises the costs of the product then it eventually rises to natural monopoly.
Here the products are given at a lower rate than the capital supplier. They are available in free market because people always tend to go for lower prices and for a good quality product.
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Market prices are determined through buying and selling decisions.
