What is another word for government-granted monopoly?
Pronunciation: [ɡˈʌvənməntɡɹˈantɪd mənˈɒpəli] (IPA) 
A government-granted monopoly is a type of legal protection that a government provides to a single entity to exclusively produce or sell a particular product or service. This type of monopoly often leads to higher prices for consumers, and a lack of competition, innovation, and choice in the market. There are many synonyms for a government-granted monopoly, including state-sanctioned monopoly, legalized cartel, regulatory monopoly, exclusive franchise, and single-source supplier. Regardless of the term used, the impact of a government-granted monopoly remains the same: it limits competition and can lead to negative consequences for consumers and the economy as a whole.
