A monopoly, as described by Irving Fisher, is a market with the "absence of competition", creating a situation where a specific person or enterprise is the only supplier of a particular thing. This contrasts with a monopsony which relates to a single entity's control of a market to purchase a good or service, and with oligopoly and duopoly which consists of a few sellers dominating a market. Monopolies are thus characterized by a lack of economic competition to produce the good or service, a lack of viable substitute goods, and the possibility of a high monopoly price well above the seller's marginal cost that leads to a high monopoly profit. The verb monopolise or monopolize refers to the process by which a company gains the ability to raise prices or exclude competitors. In economics, a monopoly is a single seller. In law, a monopoly is a business entity that has significant market power, that is, the power to charge overly high prices, which is associated with a decrease in social surplus. Although monopolies may be big businesses, size is not a characteristic of a monopoly. A small business may still have the power to raise prices in a small industry.
In economics, deadweight loss is the difference in production and consumption of any given product or service including government tax. The presence of deadweight loss is most commonly identified when the quantity produced relative to the amount consumed differs in regards to the optimal concentration of surplus. This difference in the amount reflects the quantity that is not being utilized or consumed and thus resulting in a loss. This "deadweight loss" is therefore attributed to both producers and consumers because neither one of them benefits from the surplus of the overall production.
The United States Postal Service (USPS), also known as the Post Office, U.S. Mail, or Postal Service, is an independent agency of the executive branch of the United States federal government responsible for providing postal service in the U.S., including its insular areas and associated states. It is one of the few government agencies explicitly authorized by the U.S. Constitution. The USPS, as of 2021, has 516,636 career employees and 136,531 non-career employees.
The mail or post is a system for physically transporting postcards, letters, and parcels. A postal service can be private or public, though many governments place restrictions on private systems. Since the mid-19th century, national postal systems have generally been established as a government monopoly, with a fee on the article prepaid. Proof of payment is usually in the form of an adhesive postage stamp, but a postage meter is also used for bulk mailing.
Price discrimination is a microeconomic pricing strategy where identical or largely similar goods or services are sold at different prices by the same provider in different market segments. Price discrimination is distinguished from product differentiation by the more substantial difference in production cost for the differently priced products involved in the latter strategy. Price differentiation essentially relies on the variation in the customers' willingness to pay and in the elasticity of their demand. For price discrimination to succeed, a firm must have market power, such as a dominant market share, product uniqueness, sole pricing power, etc. All prices under price discrimination are higher than the equilibrium price in a perfectly-competitive market. However, some prices under price discrimination may be lower than the price charged by a single-price monopolist.
Canada Post Corporation, trading as Canada Post, is a Crown corporation that functions as the primary postal operator in Canada. Originally known as Royal Mail Canada, rebranding was done to the "Canada Post" name in the late 1960s, even though it had not yet been separated from the government. On October 16, 1981, the Canada Post Corporation Act came into effect. This abolished the Post Office Department and created the present-day Crown corporation which provides postal service. The act aimed to set a new direction for the postal service by ensuring the postal service's financial security and independence.
Package delivery or parcel delivery is the delivery of shipping containers, parcels, or high value mail as single shipments. The service is provided by most postal systems, express mail, private courier companies, and less than truckload shipping carriers.
Pricing is the process whereby a business sets the price at which it will sell its products and services, and may be part of the business's marketing plan. In setting prices, the business will take into account the price at which it could acquire the goods, the manufacturing cost, the marketplace, competition, market condition, brand, and quality of product.
Price skimming is a price setting strategy that a firm can employ when launching a product or service for the first time. By following this price skimming method and capturing the extra profit a firm is able to recoup its sunk costs quicker as well as profit off of a higher price in the market before new competition enters and lowers the market price. It has become a relatively common practice for managers in new and growing market, introducing prices high and dropping them over time.
The subscription business model is a business model in which a customer must pay a recurring price at regular intervals for access to a product or service. The model was pioneered by publishers of books and periodicals in the 17th century, and is now used by many businesses, websites and even pharmaceutical companies in partnership with the government.
The Private Express Statutes (PES) are a group of United States federal civil and criminal laws placing various restrictions on the carriage and delivery of letters by all organizations other than the United States Postal Service.
Universal service is an economic, legal and business term used mostly in regulated industries, referring to the practice of providing a baseline level of services to every resident of a country. An example of this concept is found in the US Telecommunications Act of 1996, whose goals are:
International Distributions Services plc, trading as Royal Mail, Parcelforce and GLS, is a British multinational postal service and courier company, originally established in 1516 as a government department. The company's subsidiary Royal Mail Group Limited operates the brands Royal Mail and Parcelforce Worldwide (parcels). GLS Group, an international logistics company, is a wholly owned subsidiary of Royal Mail Group. The group used the name Consignia for a brief period in the early 2000s and Royal Mail until October 2022.
Australia Post, formally the Australian Postal Corporation, is the government business enterprise that provides postal services in Australia. The head office of Australia Post is located in Bourke Street, Melbourne, which also serves as a post office.
Rural Free Delivery (RFD) was a program of the United States Post Office Department that began in the late 19th century to deliver mail directly to rural destinations. Previously, individuals living in remote homesteads had to pick up mail themselves at sometimes distant post offices or pay private carriers for delivery. RFD became a political football, with politicians promising it to voters, and benefitting themselves to reach voters.
A business can use a variety of pricing strategies when selling a product or service. To determine the most effective pricing strategy for a company, senior executives need to first identify the company's pricing position, pricing segment, pricing capability and their competitive pricing reaction strategy. Pricing strategies and tactics vary from company to company, and also differ across countries, cultures, industries and over time, with the maturing of industries and markets and changes in wider economic conditions.
A flat fee, also referred to as a flat rate or a linear rate refers to a pricing structure that charges a single fixed fee for a service, regardless of usage. Less commonly, the term may refer to a rate that does not vary with usage or time of use.
La Poste is a postal service company in France, operating in Metropolitan France, the five French overseas departments and regions and the overseas collectivity of Saint Pierre and Miquelon. Under a bilateral agreements, La Poste also has responsibility for mail services in Monaco through La Poste Monaco and in Andorra alongside the Spanish company Correos.
Uber Eats is an online food ordering and delivery platform launched by Uber in 2014. Meals are delivered by couriers using cars, scooters, bikes, or on foot. It is operational in over 6,000 cities across 45 countries as of 2021.
Jeanette P. Dwyer is a former President And current national board member of the National Rural Letter Carriers' Association. When she was elected President in 2011, she became the first female President of a labor union in the history of the United States Postal Service. She served as NRLCA President until 2018, when she chose not to run for reelection. She was reappointed to the national board to fill the remainder of Executive Committeeman Johnny Miller's unexpired term on November 21, 2020. When the 2021 convention was canceled due to COVID-19, Dwyer was re-elected to the board at the 116th national convention in Orlando, Florida on September 9, 2022.
