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What is is called when a single company is strong enough to control an entrie industry?
Wiki User
∙ 10y ago
A monopoly
Wiki User
∙ 10y ago
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What what is it called when a single company Is strong enough to control an entire industry?
A monopoly
What it is called when a single company is strong enough to control an entire industry?
A monopoly
What is a labor agent?
A labor agent might be a person who makes sure that a company has enough labor to complete the job at hand. A labor agent might also be a person who deals with a particular union for an industry.
How did the industry change the world?
If you think about it for a minute. With this large number of population growth without industry we would not be able to produce enough food and clothing. Not to mention transportation. So industry has played a mayor roll in changing quality of life.
What are the Advantages of large scale industry?
Firstly, there is greater scope for specialization in a large industry than in a small industry. Specialized personnel contribute to the quality and quantity of output. Any job is divided into several parts, each handled by a person who has specialized in it. By doing it repeatedly he attains proficiency and greater degree of skill. In a small industry this is not possible. A job cannot be divided into parts because of the number of persons employed is limited and the capital invested is small.Secondly, in a large industry there is greater scope for specialized machinery. For example, where alpines are manufactured in a large industry, there are, several machines which do different types of jobs before a complete alpine is turned out. In a small industry a single machine is enough to turn out complete alpines. But the alpines manufactured through the process indicated in respect of large industry are definitely of superior quality.Thirdly, a large industry can afford to have its own repair department and thus save costs. In a small industry if the machine fails or any part of it goes out of order for some reason, the proprietor has to send it to a repairing workshop which may be situated far away from the factory. Taking machine to the repairing workshop and then to bring it back involve wastage of much time, energy and money. This adds to the cost of the articles manufactured. In a large industry much time, energy and money can be saved by maintaining a repairing department in the premises of the industry itselfFourthly, a large industry enjoys the commercial advantage of buying and selling. Raw material is bought in large quantities for which advance contracts can be made. For the purpose of sale of manufactured articles agencies can be opened at different places in the country, and if possible, abroad.Fifthly, a large industry is capable of standing adverse times. A good industrialist can foresee impending adverse times and can make arrangements in advance to face them. Raw material can be stored in large quantities if there is anticipated a possibility of its shortage in near future. The risk bearing capacity of the industrialist being greater, the manufactured articles can be stored if demand for them goes down and then gradually released manipulating the demand itself. All this is not possible in a small industry.Firstly, there is greater scope for specialization in a large industry than in a small industry. Specialized personnel contribute to the quality and quantity of output. Any job is divided into several parts, each handled by a person who has specialized in it. By doing it repeatedly he attains proficiency and greater degree of skill. In a small industry this is not possible. A job cannot be divided into parts because of the number of persons employed is limited and the capital invested is small.Secondly, in a large industry there is greater scope for specialized machinery. For example, where alpines are manufactured in a large industry, there are, several machines which do different types of jobs before a complete alpine is turned out. In a small industry a single machine is enough to turn out complete alpines. But the alpines manufactured through the process indicated in respect of large industry are definitely of superior quality.Thirdly, a large industry can afford to have its own repair department and thus save costs. In a small industry if the machine fails or any part of it goes out of order for some reason, the proprietor has to send it to a repairing workshop which may be situated far away from the factory. Taking machine to the repairing workshop and then to bring it back involve wastage of much time, energy and money. This adds to the cost of the articles manufactured. In a large industry much time, energy and money can be saved by maintaining a repairing department in the premises of the industry itselfFourthly, a large industry enjoys the commercial advantage of buying and selling. Raw material is bought in large quantities for which advance contracts can be made. For the purpose of sale of manufactured articles agencies can be opened at different places in the country, and if possible, abroad.Fifthly, a large industry is capable of standing adverse times. A good industrialist can foresee impending adverse times and can make arrangements in advance to face them. Raw material can be stored in large quantities if there is anticipated a possibility of its shortage in near future. The risk bearing capacity of the industrialist being greater, the manufactured articles can be stored if demand for them goes down and then gradually released manipulating the demand itself. All this is not possible in a small industry.
Is it called when a single company is strong enough is strong enough to control an entire industry?
A monopoly
What is it called when a single company is strong enough to control a entire industry?
A monopoly
What is it called when a single company is strong enough control an entire industry?
A monopoly
What is it called when a single company is Strong enough to control entire industry?
A monopoly
What is it called when a strong company is strong enough to control an entire industry?
A monopoly
What is is called when a single company is strong enough to control an entire industry?
A monopoly
What is it called a single company is strong enough to control an entire industry?
A monopoly
What what is it called when a single company Is strong enough to control an entire industry?
A monopoly
What it is called when a single company is strong enough to control an entire industry?
A monopoly
What is a manopoly?
When one company is strong enough to control entire industry
What is a monopoly.apex?
When one company is strong enough to control an entire industry
What is A situation in which a company or group of companies has enough control over an industry to be able to affect prices and availability of products?
A monopoly, hence anti-trust and competition legislations
