Describe the Conditions Under Which Monopoly Exists

question 141

Essay

Describe the conditions under which monopoly exists. Give two examples.

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Definitions:

Prescient And Creativity

The combination of having foresight or anticipation of future events and the ability to produce novel and valuable ideas.

Intrinsic Motivation

The drive to engage in an activity for its own sake, due to the personal satisfaction or pleasure derived from the activity, rather than external rewards.

Extrinsic Motivation

Motivation driven by external rewards, such as money or praise, rather than intrinsic satisfaction from the activity itself.

Growth Motivation

An internal drive to achieve personal improvement, learn new skills, and seek out new challenges.