Question

An example of a monopoly based on control of a key resource is?

1) Major League Baseball
2) the Paul Ecke Ranch monopoly on poinsettias
3) Microsoft's Windows operating system
4) the U.S. Food and Drug Administration

Answer 1

An example of a monopoly based on control of a key resource is the Paul Ecke Ranch monopoly on poinsettias.

Step-by-step explanation:

A monopoly based on control of a key resource refers to a situation where a single firm has exclusive control over a resource necessary for the production of a particular product or service. An example of such a monopoly is the Paul Ecke Ranch monopoly on poinsettias. The Paul Ecke Ranch has dominated the poinsettia market for decades, controlling a significant portion of the production and sale of poinsettias worldwide.