Economics

One provider

Many buyers 

No competition

Price maker

High levels of barriers to entry and exit in the market. 

Monopoly avoids duplication and hence avoids wastage of resources

A monopoly enjoys economies of scale of product or services in the market

Sources of revenue for the government as government gets revenue from of taxation

Earning of huge profit led monopoly to invest in research and development and provide us new product

Poor level of services

Consumers may be charged high price for low quality of goods

Lack of competition may lead to low quality and outdated goods and services

Loss in research and development may force them to revert the profit from consumer