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The difference between the term 'monopoly' and 'natural monopoly' is a monopoly is a market situation one group controls the availability and price of a service or item. A natural monopoly is a service or item that is provided by a single sorce. An example would be transportation like buses, or taxies.
Being a monopoly is to run the buissness but attemting is to be trying to get one but not have one
The difference between renting a property and having a mortgage is that when you have a mortgage you are buying the property.
In the classic board game Monopoly, the primary distinction between the least expensive and the most expensive properties lies in their respective monetary values, strategic importance, and potential return on investment. The game's real estate properties are categorized into color groups, ranging from the affordable low-tier options to the lucrative high-tier options. Monetary Value: Least Expensive Property: Typically found in the Brown and Light Blue color groups, these properties have lower purchase prices. Examples include Mediterranean Avenue and Baltic Avenue. Most Expensive Property: Located in the Green, Yellow, and especially the Dark Blue color groups, these properties boast higher purchase prices. Boardwalk and Park Place are iconic examples. Rent and Income Potential: Least Expensive Property: While affordable to acquire, the rent generated by these properties is relatively modest. This can make them less lucrative in the long run, especially as the game progresses. Most Expensive Property: High-tier properties yield substantial rent, making them key assets for accumulating wealth. Landing on these properties can significantly impact opponents' finances. Strategic Importance:
What is the difference between perfect competition and pure monopoly
perfectly competitive industry become a monopoly, what changes
perfectly competitive industry become a monopoly, what changes
A monopoly involves no competition at all while pure competition involves a high level of competition.
A monopoly involves no competition at all while pure competition involves a high level of competition.
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