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Monopoly (Business)
The term monopoly is derived from the Greek words 'mono' which means single and 'poly' which means seller. So, monopoly is a market structure, in which there is a single seller. There are no close substitutes for the commodity it produces, and there are barriers to entry.
628 Questions
What monopoly did Italy have in the 1300s?
In 1300 Italy was not yet a state , but a myriad of independent feudal seignories, city states, maritime republics, the States of the Church and states subject to foreign monarchies. Therefore Italy as a whole had no monopoly.
The Maritime Republics of Genoa, Venice, Pisa had the monopoly of the maritime routes to the Mediterranean Eastern States, that means they had also the monopoly of the spice trade.
What were the provisions of the interstate commerce act?
The three provisions of the Interstate Commerce Act:
(1) Directed that railroad rates must be "reasonable and just"
(2) Required that railroad companies publish all rates and make financial reports
(3) Provided for the creation of the Interstate Commerce Commission, and independent regulatory agency, to investigate alleged abuses and stop them
What most expensive property British monopoly?
Mayfair is the most expensive property in British Monopoly.
What form of legal monopolies still exist today?
Perhaps a better question might be "why do monopolies arise" however the current question will do just fine. And better yet, why can they arise in a democratic nation. Here is a summary that answers the monopoly question:
A. A monopoly is a company that is the sole seller of a product without close substitutes. A monopoly is able to remain as such in a market only if there are barriers to entry of that market. Basically we have a situation where other companies cannot compete with the monopoly company. There are several reasons for these barriers in an open market society:
A1. A key resource of a product is owned by one company. This is rare but as an example, De Beers owns 80% of the diamond mines in South Africa and thus controls the diamond market.
A2. The government has given the monopoly company the sole exclusive right
to produce & sell a product. This is common but the monopoly has a 20 year time limit because the US Patent Office has awarded the company a patent. The long term benefit of patent laws is to enhance creativity and intellectual achievement.
A3. A natural monopoly arises when a single company can supply a good such as water at a lessor price than two or more other companies can. ( here we have a government overseer dept. to safeguard a runaway market ).
What was a major purpose of pools trusts and cartels?
Pools, trusts, and cartels were formed primarily to limit competition and control prices within industries during the late 19th and early 20th centuries. By collaborating, companies aimed to stabilize their markets, maximize profits, and reduce the risks associated with price wars. These arrangements allowed firms to manipulate supply and demand to their advantage, ultimately impacting consumers and the overall economy. However, such practices often led to regulatory scrutiny and the eventual establishment of antitrust laws to promote fair competition.
Is property in Sprecklesville Maui expensive?
Sprecklesville is a wealthy oceanside suburb, with most homes selling for at least a million dollars. It is considered prime real estate.
Monopolies is the plural form monopoly. A monopoly is when a person or company has complete control of a supply or trade in a market.
What are the dimensions of property cards on Monopoly?
In Monopoly, property cards typically measure about 2.5 inches by 3.5 inches (6.4 cm by 8.9 cm). These dimensions are similar to standard playing cards, allowing them to fit comfortably within the game's packaging and be easily handled during play. Each card includes details such as property names, prices, and other relevant information for gameplay.
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