Examlex
Which of the following is one of the checks and balances that exist among the branches of federal government in the United States?
Government-Created Monopoly
A market situation where a government grants exclusive rights to a single entity to provide a particular good or service, limiting competition.
Exclusive Right
Exclusive right refers to a legal provision granting someone the sole authority to exploit a particular property, product, or service for a specified purpose.
Natural Monopoly
A situation in which a single firm can supply a product or service to an entire market more efficiently than multiple companies, often due to high fixed costs.
Economies of Scale
The cost advantage that arises with increased output of a product, leading to a fall in the per-unit production cost.
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