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a market structure which combines elements of monopoly and competitive markets.

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Describes a market that has a broad range of competitors who are selling the same products.

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Organization that is owned and operated by the government.
U.SPOSTAL SERVICE

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Based on the ownership or control of a manufacturing method or process.

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Based on the absence of other sellers in a certain geographic area.

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The costs of production are minimized by having a single firm produce the product.

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In this type of market structure, there is a small number of firms competing against one another.

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Market structure characterized by a single producer; no competition.
Examples of monopoly firms Kenya Power Limited in Kenya; it is the only supplier of electric power to homes and industries.