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Note: these arguments are normative to a large degree, and constitute the opinion of some authors.
1. Oligarchies form uneven relations of power and, in doing so, use state power for their own ends and not to the betterment of the public.
2. Oligarchies do not grant even access to the state and, in doing so, may be procedurally unfair, especially if people have a moral reason to have access to the state.
Wiki User
∙ 12y ago
Wiki User
∙ 11y ago- Setting of prices may be advantageous for the firms, but if done unrealistically, it may prove to be a great disadvantage for consumers.
- Creative ideas or plans of small businesses in the oligopolistic market fail to realize because they cannot overcome the control of major market players. Their realization is only possible when one of the major player adopts it for use.
- Small businesses in an oligopolistic market fail to establish themselves as a brand because most of the market is captured by larger firms.
- With the presence of little competition, dominant companies may not think of improving their products.
- Firms cannot take independent decisions and always have to consider the views of other dominant players in the market.
- New firms cannot enter the market easily due to various barriers of entry.
- The micro-economic goal of fair wealth distribution is not fulfilled as maximum profit is made by major players only, and small players are left with little profits.
Wiki User
∙ 13y agoThe quality of the products will reduce, because a monopolist can use cheaper materials to reduce cost, because there is no other product people can buy.
Dissatisfaction of the customer, because they have no choice in product and that pissed them off.
The price of a monopolist product will be higher for the customer.
The monopolist will reduce cost to increase profit. Without competition there is no reason for the company to be innovative and have R&D deparment for example. When there will be a new player in the market with new technology or better ways to produce a product, the monopolist will lose market share and with a long period of no innovation it can be hard for the monopolist to refresh the company and be competitive.
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What are barriers to entry in a monopoly?
Tel me also advantages and disadvantages of Oligopoly?
Is monopoly better than monopoly express or monopoly express better than monopoly?
If you want something entertaing for a short period of time Monopoly Express is better.If you want somethig that is longer , Monoploy. But you could play the original Monopoly on the Monopoly Express gameboard.
Explain the disadvantages of a monopoly?
The person who holds the monopoly will have the option to control the situation to his own advantages & will have unfair advantage over others. This results in unfair competition. One of the solutions to this is granting limited monopoly to encourage creativity like Patents, designs, copyrights etc. The person who holds the monopoly will have the option to control the situation to his own advantages & will have unfair advantage over others. This results in unfair competition. One of the solutions to this is granting limited monopoly to encourage creativity like Patents, designs, copyrights etc.First, monopolies cause reduction of the quality of the products. In fact, the company that has a monopoly will buy the cheap primary materials to reduce the total cost of the products.Second, monopoly causes a reduction satisfaction of the customers. Because there is only one provider or producer, the customers have no choices and they are coerced to buy this product when they need it.Third, monopoly causes increased prices. Because there is only one company can provide or produce the product, the company can increase its prices to make the highest profit.Fourth, monopoly may cause many disadvantages for the employees of the company that has a monopoly. Actually, company can decrease the salaries for its employees because it wants to reduce its total cost.In conclusion, decreasing the qualities of the goods, decreasing the gratification of the consumers, uprising the prices and decreasing the advantages of the employees in the companies that have monopoly are the main negative effects of the monopoly.customer exploitationhigh pricesLower quality
What are the four conditions in place in a perfectly competitive market?
the economy Major of those four are the natural monopoly. geographic monopoly, govrnement monopoly. technological monopoly.
How Indian railways as a monopoly?
it is a monopoly, and it's bad
What are barriers to entry in a monopoly?
Tel me also advantages and disadvantages of Oligopoly?
What are the disadvantages of the obama health care reform?
Takes away the monopoly the insurance and Pharmacorps have on the Health care industry. But I guess that is only a disadvantage if you are a CEO or a Republican...
Kinds of monopoly?
There are many different types of Monopoly. I can name a few. : Monopoly Monopoly Spongebob Squarepants Edition Monopoly Disney Pixar Edition Monopoly Junior
Use monopoly in a sentence?
Jane has a monopoly in that area. Mary has a monopoly of banks.
Is monopoly better than monopoly express or monopoly express better than monopoly?
If you want something entertaing for a short period of time Monopoly Express is better.If you want somethig that is longer , Monoploy. But you could play the original Monopoly on the Monopoly Express gameboard.
What is Spanish Monopoly?
Monopoly in spanish is...
What do you need for monopoly?
a game of monopoly
What are the the Monopoly characters?
monopoly man
Explain the disadvantages of a monopoly?
The person who holds the monopoly will have the option to control the situation to his own advantages & will have unfair advantage over others. This results in unfair competition. One of the solutions to this is granting limited monopoly to encourage creativity like Patents, designs, copyrights etc. The person who holds the monopoly will have the option to control the situation to his own advantages & will have unfair advantage over others. This results in unfair competition. One of the solutions to this is granting limited monopoly to encourage creativity like Patents, designs, copyrights etc.First, monopolies cause reduction of the quality of the products. In fact, the company that has a monopoly will buy the cheap primary materials to reduce the total cost of the products.Second, monopoly causes a reduction satisfaction of the customers. Because there is only one provider or producer, the customers have no choices and they are coerced to buy this product when they need it.Third, monopoly causes increased prices. Because there is only one company can provide or produce the product, the company can increase its prices to make the highest profit.Fourth, monopoly may cause many disadvantages for the employees of the company that has a monopoly. Actually, company can decrease the salaries for its employees because it wants to reduce its total cost.In conclusion, decreasing the qualities of the goods, decreasing the gratification of the consumers, uprising the prices and decreasing the advantages of the employees in the companies that have monopoly are the main negative effects of the monopoly.customer exploitationhigh pricesLower quality
What are some sentences using the word monopoly?
"Monopoly suppliers are publicly owned." "Monopoly of wisdom." "Monopoly of truth seems to threaten us."
What is a sentence of monopoly?
Monopoly is a board game.
How do you download Monopoly?
there a monopoly game in nick.com.
