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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.
What else can I help you with?
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 the purpose of the Community Chest in the game of Monopoly?
The purpose of the Community Chest in the game of Monopoly is to provide players with cards that can either benefit or hinder their progress in the game. These cards can include rewards such as receiving money or advancing to a specific space on the board, as well as penalties such as paying fines or moving back spaces.
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
How many types of monopoly exist in the market?
There are four main types of monopoly in the market: natural monopoly, geographic monopoly, technological monopoly, and government 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.
What are some popular games on the Monopoly games list?
Some popular games on the Monopoly games list include Monopoly Classic, Monopoly Junior, Monopoly Empire, and Monopoly Ultimate Banking.
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.
How can I collect 200 Monopoly dollars in the game Monopoly?
To collect 200 Monopoly dollars in the game Monopoly, you can pass "Go" on the game board, which rewards you with 200 Monopoly dollars.
What are the the Monopoly characters?
monopoly man
What do you need for monopoly?
a game of monopoly
