What is a business monopoly? Give one example.?

Question

What is a business monopoly? Give one example.

Answer 1

your local gas company is authorized to run gas lines in the streets and deliver it to your house. That's a government authorized monolopy.

Some companys buy the gas in bulk and resell it using the gas cos. liines also.

Answer 2

A monopoly is a company that dominates and controls a specfic industry. Companies that have a lot of control may able to take advantage of the consumers and at times are broken up into little companies (Standard Oil, AT&T).

One business monopoly right now is Microsoft. They dominate the PC world with their Windows program (I think 95%) and their Office program.