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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 is the 1890 law that prohibited monopolies and trusts that restrained trade?
Sherman Anit-Trust Act
Because the cost of switching infrastructure to another form of energy is more expensive than to begin drilling for oil in a new position.
The good and the bad of monopolies in the gilded age?
well monopoly is cool but i think srabble is better
This isn't about the game.
Some good effects were:
More Jobs, Economic develpoment, lower prices etc.
Some bad effects:
Restriction of capitol, less tecnology, higher prices, etc.
What industry did Andrew carnegie control as a monopoly?
He controlled the steel corporation called Carnegie Steel Corporation. He started by working as an assistant to one of the railroad's top officials and about 3 years later he was promoted to superintendent of the company.
What is the difference between a monopoly and vertical integration?
Monopoly is when you control the market. AT&T supposedly had one in the 80s because they were to big for competition to survive and effect prices. Many feel that Microsoft is a monopoly today. They were investigated by Congress but concluded that they were not a true controller of the market. Vertical Integration is when you control the companies needed to make your product. Carnegie is a good example as his steel company bought coke fields, iron ore deposits, steel mill, ships and railroads allowing him to own all phases of production.
What was Ida Tarbell's approach to social reform?
Ida tarbell's approck to sicial reform is she did not like woman voting
Is public education a natural monopoly?
Yes public education is a natural monopoly because it is a market that runs most efficiently when 1 large firm supplies all of its output.
What is the term for monopoly?
When one company out-sells another and the one that was out sold goes bankrupt, it is called a monoply.
Actually, a monopoly is when only one business has control over an industry.
The term for running another business out of business is called predatory capitalism. For instance, lets say you and I both sell hot dogs, and can both make a comfortable income at $1 each. Lets supposed I am wealthier than you already and really don't need the business. So I start selling hot dogs for twenty cents each. Yes, it would hurt me, but if you don't have the same resources, it would run you out of business. Then I could charge $2 each or whatever. I'd have all your customers and the freedom to charge what I want. So predatory capitalism can create a monopoly, but that is not the only way one is created.
What is the difference between a geographic monopoly and technological monopoly?
Geographic monopolies occur when there is only one company that offers a particular good or service in an area. Technological monopolies occur when the good or service the company provides is has legal protection in the form of a patent or copyright.
Where can I download the Classic Monopoly game for Mac's?
Check the link in the related links section below.
You can download a demo version there.
Is apple a unethical monopoly?
No, they have competitors and a monopoly doesn't . Yes, they try to control how other companies use the same type technology.
A cartel differs from a monopoly in that?
a cartel is a group that agrees to charge monopoly price and quantity, splitting quantity amongst themselves.
so a monopoly is one company and a cartel is a group. Profits are lower for cartel members because they only produce a total quantity that is equal to a monopolists production.
novanet-businesses making the same product agree to limit production
when you buy the property without putting any houses on it.
What id the Italian trade monopoly?
The Italian Trade monoply accoured during the three worlds meet [Europe Africa and North America]. They would trasde goods. Per-say a special spice to be brought from Africa to Europe. It would travel from market to market until given to the buyer. If the price started at 1.50, it would be sold at 1.50 to the next market. But that market would bring up the price, maybe to, let's say, 1.75. Eventually the price of the spice's transportation from Africa to Europe would sky rocket, making a 1.50 priced spice go to 7.75. This is called the Italian Trade Monopoly; it made the Italians gain wealth but other's not. This made other countries angry, which of course led to the end of this trade- leading to more transportation on water to get these goods.
Case study opn monopoly market structure?
this all depends. if you sell tatti in the monopoly structure then depends if tatti will produce more units in the economic market. there are different types of tattis in the world when concerning monopoly. Colors of tatti black brown white yellow blue. Try it out you can also eat tatti and then offer it to others to see how the monopoly would profit your structure
