Monopoly is occur when there is only one organization which is providing a specific service or product

Monopoly is occur when there is only one organization which is providing a specific service or product. So, price and output decisions are made by the organization. The organization can control the price and supply of the product. It all happens because customer does not have any other choice. For example, WAPDA in Pakistan.
This market structure is occurred because of the united organization who are used to produced same products. Organization has less command on the price of the product. All organization are used to sell on the decided rate of the same product. And they gain market share because of the their marketing activities and the supply of the product is depend upon their market share in the market.