The real-world example of a monopoly from the options provided is the local electricity company with no competitors. In many regions, utilities such as electricity providers are single providers in their area, meaning they hold a monopoly over that specific market. This can occur due to high infrastructure costs, regulatory issues, or other barriers to entry that prevent competition.
The other options typically have multiple competitors:
- Commercial airlines usually compete against one another on various routes.
- Agricultural vendors often have many competitors within the market.
- Fitness centers in a large city generally face competition from other gyms and fitness facilities.