Answer:
A particular computer software manufacturer creates a product that all computers are required to use. The exclusive product allows the manufacturer to dictate prices, standards of quality, and product availability. This would be an example of a monopoly.
Explanation:
The term monopoly refers to the exclusive possession or control of the supply or trade of a service or commodity. In this cases, the market or industry is dominated by only one producer, seller or company that dictates prices, standards of quality and product availability.
