Government Monopoly or private monopoly which is best preferred.

[TOZZIBLINKZ]

My answers to this thread will be based on my own view and perspective. I would prefer the government to own all monopolies businesses established in a particular economy. And in case you are wondering what is a monopolistic business well it is a kind of business in which only one individual is the seller or the vendor of a particular goods or services to many buyers and purchases. A good example of monopolistic business is established in some areas of west Africa to be precise Nigeria is electricity company which is popularly known as PHCN. It is better for government to own all monopolistic businesses in a particular economy because to some extent they would be an equitable share of these goods and services among individuals. But if private individuals will to own companies such as these that provide electricity, they may not be and equitable share of these services.

Government monopolies absolutely give way for vast numbers of employment opportunities but private monopolistic businesses may only give employment opportunities over a certain level of individuals. For example in the PHCN company individuals of various categories add of various career and job choice can totally work there and earn a living. People also have the privilege to get trained and experienced as potential engineers and electrical software job or career owners .

 

[CALVINDOL]

It is best for the government to own all business monopolies and companies monopolies in a particular economy because job employment and wants and needs will be equitably and sufficiently shared among individuals and citizens residing in a particular economy. And it will be better for the government to all all business monopolies and companies due to the fact that private Monopoly seems to be more toxic and more argumentative and sometimes they lord it over themselves to the extent that they did not feel the impact of successfully and sufficiently satisfying the needs and once of individuals patronizing the Monopoly.

As a Nigerian, I totally understand the example or a scenario you gave above . And indeed it is a more explanative one. The PHCN company in Nigeria seems to provide job opportunities for every individual and the government in Nigeria are the only holders of electricity in the country and that gives a good example of a business Monopoly existing in Nigeria. If the private electricity company, things may turn out for the worst .

 

[Mataracy]

Monopoly can be defined as a situation where by an individual organisation or person is solely producing a product.
Government monopoly is a situation where government is the only one producing certain goods or services to people within a country or state.
Private Monopoly occur in the other way round that a private company is the only one producing certain service or selling certain goods alone in that geographical area.
There is advantages and disadvantages in the part of Government monopoly and private Monopoly.

The advantage of government Monopoly is that; since government sector is not a profit making organisation and all the services they are rendering will only to benefit the society and will make people to have choices.
The disadvantage of this could be the lack of quality in terms of production.

The advantage of the private Monopoly is that there will be quality in the production of goods and services.
The disadvantage is that the price of the goods and services may be too high that many of the people may not be able to afford it.