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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 were the methods used by the buccaneers to break the spanish monopoly?
The buccaneers/pirates attacked the Spanish ships and settlements.
Why can WE energies be a monopoly in WI?
They can because we let them via government agreements. They get to enforce whatever policies they choose and will take every last dime. The real question is what are you going to do about it?
What happens when you get a monopoly?
A monopoly is abusiness where there is no competition. For example, a new medicine is patented and it turns out to be a cure for a deadly disease. The company that produces it is the only place to purchase it and they can as a result name their price. this often leads to the death and suffering of a lot of people as the simple result of avarice or as some would cal it free enterprise. luckily patents last for only 20 years or there abouts .this sort of thing can happen in a lot of different situations and anti trust laws are said to keep this under control
Monopoly is efficient because it promotes growth in market sectors by engaging products in a competitive environment. That's what a monopoly does NOT do. A monopoly (single supplier to a marketplace) can be either efficient or inefficient. An efficient monopoly is one where, free from competitive pressures, the supplier spends all its time making more, higher quality and better costing products. That's not what usually happens. An INefficient monopoly is one where the monopolist gets fat and happy, secure in his knowledge anyone who uses the product he sells has to get it from him, and curtails innovation (since everyone's buying the stuff anyway, why bother?), cheapens the product he's selling and raises the price beyond all justification.
A monopoly happens when one business has no competitors. Imagine if McDonald's was the only fast food restaurant in the city. Of course, that would mean they would be able to raise their prices there for no reason besides the fact that they're able to. No opponents. The customers would either be forced to go to another city to buy burgers, or stay there and eat. Obviously, the government has passed laws against raising your prices without a just cause, so don't try it.
Are most local phone companies natural monopolies?
They used to be, because the infrastructure is very expensive. Nowadays with the proliferation of cell phones and internet phone technology, not so much.
John D. Rockefellar.
1914 legislation that dealt against monopolies particularly in the area of price-fixing?
Clayton Antitrust Act
How do you reset your bank cards in electronic monopoly?
Yes you can reset it by removing ALL cards from the card slot. Then, hold down the C (clear button) until you hear al long BEEP. All cards will be reset to the starting 15 million dollar balance.
What legislation was designed to limit the power of big business to form monopolies?
Sherman antitrust act
Is Campbell's Soup a Government-granted monopoly?
'Campbell's Soup' is a trademark owned by CSC Brands and registered under US law with the United States Patent and Trademarks Office, as well as in many other countries. One of Campbell's Trademarks is USPTO Registration #3215181.
The Campbell's trademark registrations don't give them any kind of monopoly on making or selling any type of soup, or any other product: anyone can sell soup provided they don't do it in a way that infringes on anyone's intellectual property rights.
Trademark registration gives protection to the owner of the trademark as described in that registration, so, for a very basic example, if you own a registration for V8 - as CSC Brands do - for vegetable juice, then someone else can't legally call their vegetable juice V8; if they do you can ask them to stop using your trademark, and if they still keep doing so you can take legal action to get them to stop.
On the other hand, you might be able to register the name V8 for a totally different product or service, provided the USPTO was satisfied your trademark didn't infringe on any of CSC Brands' 'V8' trademarks.
Anyone can register their own trademark, in the US or anywhere else that allows trademark registration, depending on various conditions and requirements.
Trademark owners pay an application fee when they ask to have their trademark registered and then, if their trademark is accepted for registration, pay a fee which must be renewed at regular intervals, to register it and keep it registered.
You can apply to register as many trademarks as you like; whether they'll be accepted for registration depends on intellectual property laws in your country, as well as on international law.
For details of US Trademarks, go to the link below, click on Basic Word Mark Search, and enter the trademark or number in the Search Term field.
In a competitive environment, monopoly CANNOT be stopped. It is the process of competition by which the driving force of the market sector breathes. One may enter the monopoly of a given sector to compete in monopoly, but in order to stop monopolistic competion or halt it to a substantial degree one must declare itself in pure monopoly. This may only occur when all other companies have exited the market due to the extreme barriers to entry, such as a lack of profit making for any company besides the company in pure monopoly. Generally, one cannot stop a monopoly in progress. The only way to halt a monopoly is by the extreme conditions of market forces existing in a monopoly that would cause a company to gain total control and therby stopping competitive markets from existing. Although, competitive markets may still exist, thereby promoting the existence of a monopoly into existance, without profit making a monopoly system will crash leaving only a pure monopoly for all profit taking. To stop a Monopoly board game in progress all one needs to do is close the game and walk away.
What did Cornelius Vanderbilt had a monopoly on?
He controlled all of the steam ship companies and all of the railroad companies and made over 2,000,000,000 in modern day money
How did Microsoft become a monopoly?
they are the major operating system in all computers world wide, coming in most languages, formats, companies etc...... they also closed down the market for apple in the beginning, but they came back up. They also used the browser internet explorer to stop the cost of buying one like Netscape and others. they pretty much took control of the computer market altogether.
What is a monopoly in industrial revolution?
When someone owns a whole industry, like the steel company Andrew carnegie was the only one to be disributing steel.
Yes it is virtually a monopoly although of course, there are private clinics and hospitals but they are still overseen by the State. A substantial number of people [more than we think] would like to see the NHS abolished in favour of people taking responsibility for their own health. NHS contributions are deducted from our wages. In addition, a large proportion of our other taxes go towards the NHS. Many libertarians would like to see the NHS abolished because if an individual decides to 'go private' for a health problem they have to pay again. They feel they are paying twice. NHS insurance as well as taxes are compulsory. You cannot opt out of contributions. The State always has first dip into your wages.
The NHS employs millions of people just to run it - especially at the administrative level. And they all have to be paid! This is where the bulk of your money goes. The PCT alone takes up unbelievable amounts. A much smaller proportion actually goes on patient care. GPs wages are approx £450 a day for doing a bit of diagnosing and a few referrals if they don't know the cause of your problem. Their housing, holidays and lifestyles are guaranteed by the taxpayer. At the other end of the wage scale the reception staff [who do all the work and take all the patient's abuse] are lucky if they receive £50. They are usually women as women are less likely to respond to abuse and tend to be notoriously concentrated in these kind of low-paid jobs. Men would tolerate neither the abuse nor the low pay.
Many people would like the NHS to be eradicated because of the dependency culture that it has generated. Some argue that it is the mummy and daddy of the nation. Most surgeries are filled with people with minor ailments and out of all the referrals only about one in every 500 genuinely have something wrong with them. If people had to pay they would ignore their minor ailments and refrain from turning up at casualty with a bunion. There is no way that the NHS can continue as a monopoly with an ageing population, one born every minute, increasing obesity, the mental problems that Western poverty causes and an ever expanding open house for all. Other countries manage well without a national service but the UK seems to think it cannot. Data reveals that many people would like to see small private houses set up as small practices with competitive quality care. The lower paid need sufficient wages in order to afford it. Some doctors would like to make their own minds up about who they take into their practice and who they would like to take themselves off elsewhere.
The NHS is a hot potato with politicians. It acts as a buffer against revolt. If there is one thing guaranteed to incite mass revolution it would be the eradication of the NHS. Once a country has a national heath service it is impossible to get rid of it openly. However, aspects of it are being privatise albeit in very subtle way.
What were some of the most famous monopolies of the late 19th century?
Andrew carnagies steel company.
john d. rockafellers standered oil company.
and that's all i can think of haha.
