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Good because it allows you to charge outrageously high prices from buyers who have no choice but to buy from you. You can also save money by providing very poor service to your customers. You may be able to buy things cheaper because your vendors have no one to sell to but you. You may be able to pay specialized workers less because they have nowhere else to work with their particular skills.
Thus monopoly helps you become rich at the expense of others. Some people would call that good. Others might not.
Wiki User
∙ 11y ago
Wiki User
∙ 13y agomonopoly is OK because it is neither good or bad.... monopoly is the condition where there is a single seller... he is also called " price maker "..... single seller controls the market.... he produces the commodity and sells it at a higher price because of the absence of a rival firm.... but as he has to be consumer friendly he cannot increase the price of the commodity beyond a certain level.... that's why its not bad.... and its not good because a single seller is indulged into the habits of speculation... he holds back certain amount of commodities and sells them at the time of price rise.... so with certain advantages and dis advantages monopoly is okay......
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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 is the antonym for the term Monopoly?
Competition or competitors would be a good start. Since a monopoly is when a single entity provides a good or service (such as the power company), the opposite of that would be multiple entities providing the same good or service.
What exists when the entire supply of a good is controlled by a single seller?
monopoly
Definition of sole control and monopoly?
Sole control or monopoly means that a company has too much or all of the market share and it can affect supply, demand and even prices of a specific product. Monopoly is not good for a country and consumers over there.
Is KFC an good example of a monopoly?
yes, kfc is good for all points u can earn money,economics for goverment.
How do you spell Monopoly?
That is the correct spelling of "monopoly" (control of a good, resource, or service). The capitalized form Monopoly is a board game originally produced by Parker Brothers.
A monopoly permitted by and regulated by the government for its greater social good such as a telephone company?
natural monopoly
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 are good Victorian names?
how about josepth monopoly maximus
Why is monopoly a good game?
yes
What monopoly game piece had for a good girl engraved on it?
the thimble
What is the antonym for the term Monopoly?
Competition or competitors would be a good start. Since a monopoly is when a single entity provides a good or service (such as the power company), the opposite of that would be multiple entities providing the same good or service.
Is there a metal monopoly man game piece?
No, But that's a good suggestion to the people who made the monopoly game or the company. Thanks for asking this Question.
What are some good hotel games?
pet hotel monopoly hotels
What exists when the entire supply of a good is controlled by a single seller?
monopoly
How much money will be destibute in small Monopoly?
if you mean the game monopoly a good amount of money to start with for a quick game is 500 (5million in electronic banking)
