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Government Monopoly or private monopoly which is best preferred.
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[QUOTE="Mataracy, post: 288277, member: 28733"] 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. [/QUOTE]
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Government Monopoly or private monopoly which is best preferred.
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