Information on Different types of Monopoly are as follows. So let us find out some points on various types of monopoly. Also there are various advantages and disadvantages of monopoly which explains more about monopoly
Types of Monopoly are:
- Natural Monopoly : The monopoly which can arise due to economies of scale, and the economies of scale can arise due to natural demand and natural supply.
- Local Monopoly : This kind of monopoly exist in a limited geographic area.
- Regulated Monopoly : In this type of monopoly the behavior of the firm or organization is overseen by the government entitiy.
- Monopoly Power :Having power to set prices, Market power.
- Monopolization : It is considered as an attempt by any firm or organization to dominate a market or bacome a monopoly.
- Perfect Monopoly : There is not a single competitor in perferct competition , absolutely zero level of competition.
- Imperfect Monopoly : Overhere product may or may not have a remote substitute so there is always fear of competition to some extent.
- Private Monopoly : In this kind of monopoly the production owned, managed or controlled by the private body.
- Public Monopoly : In this kind of monopoly the production is controlled, owned and managed by the government . It is similar to regulated monopoly.
- Simple Monopoly : Here there is single price for all customers.
- Economic Monopoly : Monopoly is created due to super effeciency of a particular player in the market.
- Regional Monopoly : This monopoly is created by the geographic aspects or territoral aspects.
- Legal Monopoly : This type of monopoly is ceated by the laws of the country according the public interest. It helps to prevent disparity in the distribution of wealth or if there is any imbalance in growth of the economy.