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What dose someone have if they create a monopoly of a market for a particular product?
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What does someone have if they create a monopoly of a market for a particular product have?
total control.If someone creates a monopoly of market for a particular product, they have nearly all control over the sales and distribution of that product. This is bad for consumers, as it generally means high prices without the ability to shop around for a cheaper product or service.
How a government is involved in creating a monopoly?
The government can create a monopoly when, in doing so, it is in the interest of the public good.
What did Andrew Carnegie use to create a monopoly?
toothpaste
What was Andrew Carnegie's monopoly?
Andrew Carnegie's Monopoly is the extreme case in capitalism.
What were some of the methods used by businessment to create monopolies and increase profits?
1. Take over a major part of production. E.g. control the important resources, manufacturing, or information of a product 2. underprice the product to entice consumers to buy your product (while underpaying for the resources or the workers) 3. gather a legal right to a monopoly, E.g. copyrights
What does someone have if they create a monopoly of a market for a particular product have?
total control.If someone creates a monopoly of market for a particular product, they have nearly all control over the sales and distribution of that product. This is bad for consumers, as it generally means high prices without the ability to shop around for a cheaper product or service.
How a government is involved in creating a monopoly?
The government can create a monopoly when, in doing so, it is in the interest of the public good.
How did railroads create a natural monopoly?
good job
What did Andrew Carnegie use to create a monopoly?
toothpaste
What is the origin of branding?
Branding started as soon as someone started to sell something that differentiated themselves from others. As soon as people started to come to that vendor for that vendor's particular product, branding was applied. In more recent times, the purpose of branding was to create a lasting impression of your product in the consumer's minds to make your product stand out among its competitors.
What is sale promotion?
sale promotion is a part of the marketing activities through which the product is promoted in the market. it is for short duration and it is carrried out to create a mind share and the customer will think of that company's product when he wants to buy the particular product.
Can you use Game Salad to create a Monopoly type game?
yesss
What was Andrew Carnegie's monopoly?
Andrew Carnegie's Monopoly is the extreme case in capitalism.
How do you create a monopoly game board online without a printer?
Monopoly.com has something about it but you have to pay
What were some of the methods used by businessment to create monopolies and increase profits?
1. Take over a major part of production. E.g. control the important resources, manufacturing, or information of a product 2. underprice the product to entice consumers to buy your product (while underpaying for the resources or the workers) 3. gather a legal right to a monopoly, E.g. copyrights
What is the different between sales clerk to promo clerk?
sales clerk is someone who is employed at the sales department of a company or shop. promo clerk someone who create sales for a product.
Why would a business want to create a monopoly?
A monopoly is where a business is the only business in its product/service/brand market. This would give you an advantage because it not only makes the market less competitive but gives you NO competitors. The general pros are: You have more control over your price. Your research and development (R&D) costs can be lower since there will be no competitors driving you to constantly improve; this also includes you are not pressured by them to constantly meet their changes, so you have more control over the evolution of your product. You get 100% of the market, if people want the product or service they have to buy yours.This is where the road splits depending on if your product or service is a necessity good or a luxury good. A necessity good is basically a good that people have to have no matter what or cannot live without. A luxury good is an item that is 'extra,' you can live without it, and when the times are tough you do, but when the times are good you buy more of it. If the product or service you are providing is necessity good, then being a monopoly can allow you to basically set any price on your product or service. Your product will be bough generally at an even rate through the good and bad times.If your your product is a luxury good then you will have more pressure from the market to make product/service improvements, price improvements (up or down depending on the economy, branding, etc). Your sales will be influenced by both the economy and the wealth of your customers (as people's income increases they will buy more and more of the product). If times are good and you have a luxury product or service that is monopolized and wanted you are good but if times are bad you are in trouble.In the end, even if you have a monopoly your product/service has to be wanted. I could have a business monopoly on picking other people's noses but since that is a unneeded and unwanted (hopefully someone else picking your nose is undesired), you will not make money or have a successful business.
