One of the best examples of this type of Monopoly is (OPEC) Organization of Petroleum Exporting Countries. This type of Monopoly comes into existence to avoid the throat-cutting competition in the market and creates a group of monopolists to escalate their profits. It discriminates amongst the buyers for selling similar products, different prices are charged on divergent buyers such as lawyer charges different fees from his every client. In this type of Monopoly, uniform charges are charged by the traders to all the buyers for its products. The government governs this Monopoly for printing currency and the minting of coins, etc. It is a Monopoly which arises because of legal barriers or provisions such as copyrights the law prohibits an action of replicating any design registered under a particular brand name. When the government controls the production for public welfare, it is said to be a social monopoly. It depends upon the natural factors of the area such as Karnataka has a Monopoly of the coffee market as the climate of Karnataka suits best for coffee cultivation. Therefore, the market controlled by a sole trader is said to a Monopoly market. The word Monopoly is a combination of two words in which “ mono” implies “ single” and “ poly” means “ seller”.
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