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In economics, a government-granted monopoly (also called a "de jure monopoly" or "regulated monopoly") is a form of coercive monopoly by which a government grants exclusive privilege to a private individual or firm to be the sole provider of a good or service; potential competitors are excluded from the market by law, regulation, or other mechanisms of government enforcement.
It is a monopoly created, owned, and operated by the government. It is usually distinguished from a government-granted monopoly, where the government grants a monopoly to a private individual or company. A government monopoly may be run by any level of government—national, regional, local; for levels below the national, it is a local monopoly.
The government may also reserve the venture for itself, thus forming a government monopoly, for example with a state-owned company. [citation needed] Monopolies may be naturally occurring due to limited competition because the industry is resource intensive and requires substantial costs to operate (e.g., certain railroad systems). [3]
Jirat Teparaksa/Shutterstock.com. 6. De Beers. De Beers is one of the most controversial companies among the biggest monopolies of all time, which is saying something.
Monopoly Capital: An Essay on the American Economic and Social Order is a 1966 book by the Marxian economists Paul Sweezy and Paul A. Baran. It was published by Monthly Review Press . It made a major contribution to Marxian theory by shifting attention from the assumption of a competitive economy to the monopolistic economy associated with the ...
A chart of accounts (COA) is a list of financial accounts and reference numbers, grouped into categories, such as assets, liabilities, equity, revenue and expenses, and used for recording transactions in the organization's general ledger. Accounts may be associated with an identifier (account number) and a caption or header and are coded by ...
With Monopoly just having turned 80 this year, many real-life personal-finance lessons can be learned from the classic money-loving board game, which is now made in 47 languages and sold in 114 ...
Elizabeth I assured monopolies would not be abused in the early era of globalisation. Europe around the 15th century was changing quickly. The new world had just been opened up, overseas trade and plunder was pouring wealth through the international economy and attitudes among businessmen were shifting.