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The purpose of a monopoly is to have control of the entire section of a part of the economy. If someone has a monopoly over a certain thing they are the only people who can provide that service or product so they will have the ability to make their prices really high.
Ex. if one company owned all the gas stations in a 50 mile radius they could sky rocket their gas prices and people would still buy gas from them because they have nowhere else to buy gas.
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∙ 13y ago
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Are there homogeneous products in an oligopoly?
Homogeneous products are in a monopoly, oligopoly, monopolistic, monopoly and pure competition according to economics. for the purpose of analysis.
What purpose does competition serve in the free market?
to keep monopoly's from happening
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 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
Are there homogeneous products in an oligopoly?
Homogeneous products are in a monopoly, oligopoly, monopolistic, monopoly and pure competition according to economics. for the purpose of analysis.
What purpose does competition serve in the free market?
to keep monopoly's from happening
What is it called when smaller companies doing the same kind of business are bought by larger firms for the purpose of controling the industry?
Monopoly
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
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.
