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Capitalistic system.
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A loose arrangement of similar businesses formed to control production and keep prices high is called a?
A system of commerce where several companies work together to control prices and limit competition is called a conglomerate. It is also called a monopoly if the same company owns each one of the competing companies.
What are the different versions of monopoly?
Perfect Monopoly: It is also called as absolute monopoly. In this case, there is only a single seller of product having no close substitute; not even remote one. There is absolutely zero level of competition. Such monopoly is practically very rare.Imperfect Monopoly: It is also called as relative monopoly or simple or limited monopoly. It refers to a single seller market having no close substitute. It means in this market, a product may have a remote substitute. So, there is fear of competition to some extent e.g. Mobile (Cellphone) telcom industry (e.g. vodaphone) is having competition from fixed landline phone service industry (e.g. BSNL in India).Private Monopoly: When production is owned, controlled and managed by the individual, or private body or private organization, it is called private monopoly. e.g. Tata, Reliance, Bajaj, etc. groups in India. Such type of monopoly is profit oriented.Public Monopoly: When production is owned, controlled and managed by government, it is called public monopoly. It is welfare and service oriented. So, it is also called as 'Welfare Monopoly' e.g. Railways, Defence, etc.Simple Monopoly: Simple monopoly firm charges a uniform price or single price to all the customers. He operates in a single market.Discriminating Monopoly: Such a monopoly firm charges different price to different customers for the same product. It prevails in more than one market.Legal Monopoly: When monopoly exists on account of trade marks, patents, copy rights, statutory regulation of government etc., it is called legal monopoly. Music industry is an example of legal monopoly.Natural Monopoly: It emerges as a result of natural advantages like good location, abundant mineral resources, etc. e.g. Gulf countries are having monopoly in crude oil exploration activities because of plenty of natural oil resources.Technological Monopoly: It emerges as a result of economies of large scale production, use of capital goods, new production methods, etc. E.g. engineering goods industry, automobile industry, software industry, etc.Joint Monopoly: A number of business firms acquire monopoly position through amalgamation, cartels, syndicates, etc, it becomes joint monopoly. e.g. Actually, pizza making firm and burger making firm are competitors of each other in fast food industry. But when they combine their business, that leads to reduction in competition. So they can enjoy monopoly power in market.
What is the process of forming a monopoly called?
vertical integration
What is the market dominated by a single buyer called?
Monopoly
Why the Spanish monopoly system was needed?
Spanish Monopoly System is all goods produced in the New World had to be exported to Spain and to no other country but Spanish countries and only in Spanish ships. Everything the colonists bought had to be imported from Spain itself and carried in Spanish ships
What was Monopoly called before Monopoly?
The Landlord's Game, in 1904.
The situation in which a single company controls an entire industry is called what?
a trust
What it is called when a single company is strong enough to control an entire industry?
A monopoly
Does the Wii system have a monopoly game?
yes it does
What is a monoply system?
To acquire or maintain a monopoly of.
What is the name of the character behinde bars is monopoly?
Apparently he's "Jake the Jailbird". The gent with the white mustache is "Rich Uncle Pennybags," though he's also called "Mr. Monopoly."
What county is islington in?
There is a region of London in England called Islington There is also The Angel, Islington in the UK Monopoly game
What is the name of the character locked behind bars in monopoly?
Apparently he's "Jake the Jailbird". The gent with the white mustache is "Rich Uncle Pennybags," though he's also called "Mr. Monopoly."
What is it called when a business has no competition?
Monopoly
What is a business called when they have no competition?
A monopoly
What is the persons name of the character locked behind bars in monopoly?
Apparently he's "Jake the Jailbird". The gent with the white mustache is "Rich Uncle Pennybags," though he's also called "Mr. Monopoly."
What is it called if you have a sole control over a trade is called?
Monopoly
