Describe monopoly and what i like and dis like about monopoly

Monopoly is the term which refers to particular person or enterprise which is the only supplier of that specific product or commodity. Monopoly can be established by a government or people by integrating small business sectors.

Explanation:

Advantages

It always ensures a consistent delivery of products or commodities that have a very high cost They have a greater ability to fund research and development and they can do successful research with low cost budgets They will have more number of competitors in the international markets

Disadvantages

Fixing of price is one of their major disadvantages since they have the power to fix prices the consumers cannot question them regarding price fixing Reduction in the quality of the products they always have the possibility of providing low quality products  Since they follow a trade policy the innovations become numb and there will be no development in the innovation of products