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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
A monopoly occurs when one company has total control in the production and distribution of a product or service.
What does someone have if they create a monopoly of a market for a particular product have?
total control.
If someone creates a monopoly of market for a particular product, they have nearly all control over the sales and distribution of that product. This is bad for consumers, as it generally means high prices without the ability to shop around for a cheaper product or service.
What often destroys a natural monopoly?
when a competitor comes along and starts taking business away. Microsoft is a good example of a monopoly because their operating systems are used on about 90 per cent of the worlds computers. Another example is Google because is the world leader in internet search marketing and advertising, in the usa Google gets about 70 to 80 per cent of the search engine revenue, and in Australia it is even higher, Google gets about 90 per cent of the internet search engine revenue in Australia. Google's nearest competitor is Yahoo and then Microsoft's search engine bing I think. Sometimes governments will step in to break up a monopoly.
Eskom is a Monopoly because is the only Electricity Ernergy supplier in the country .It does not compete when it comes to supply of it thereof.It was like Telkom prior 1994 when Cell phones were absent.
The verb form of monopoly is monopolise (or monopolize in US English).
Other verbs are monopolises, monopolising and monopolised.
"I will monopolise everything I can".
"The entire city was monopolised".
What are the four characteristics of a pure monopoly?
1) Only one firm in the market (no competition).
2) Significant barriers to entry by other firms exist.
3) Lack of substitute goos for the monopolist's good.
4) Firm is a price-maker.
How a monopoly firm will not achieve allocative efficiency?
They produce at a different point than a competitive firm, a monopoly produces at a point where marginal revenue= marginal cost, where a competitive firm equates price to marginal cost.
The marginal cost curve is lower than the demand curve, but the monopoly charges the price at the demand curve, which is a higher price and a lower quantity than a competitive market would produce.
No there are other online auction sites just none that are as big as ebay is.
ubid
ebid
webstore
online auction
webidz
cqout
epier
To break up the Standard Oil Company of New Jersey under the 1911 Sherman Anti-Trust Act.
resource : http://womenshistory.about.com/od/tarbellida/p/ida_tarbell.htm
What best describes the market structure of a monopoly?
A monopoly is when a market has many buyers but only one seller.
What are the advantages and disadvantages of natural monopoly market structure?
Oligopoly involves market domination by a few firms.
- The abuse of market power, especially in pricing and output decisions, is typically associated with oligopoly, which is why many competition authority investigations involve the study of the behaviour of a small number of firms (often two in a merger) within a market.
- The internal relationships of firms in oligopoly involve constant scrutiny of the behaviour, or predicted behaviour, of others, and an attempt to keep, or maintain, a market advantage.
- Acting alone can lead an oligopolist into market danger, so there is a constant temptation to form 'agreements', either formal or informal, with other firms to reduce uncertainty.
Why government monopolies allowed?
when a producer have permit/copyright and no anyone know about his product or technology except him and this product/service for welfare of society or it fulfills many requirements of consumers.
How much is a 1941 monopoly game worth?
You can also check out www.ValueMyCollection.com for pricing information on any collectibles.
Why did powerful capitalists form monopolies and trusts?
The government had to pass the anti trust law to restrict trusts and monopolies to protect the value of the consumer dollars. The Anti trust laws help to promote a free and fair trade marketplace competition.
A situation in which a single company or group owns all or nearly all of the market for a given type of product or service. By definition, monopoly is characterized by an absence of competition, which often results in high prices and inferior products.
Did Ida M Tarbell have any siblings?
No.
From Charlotte Perkins Gilman: New Texts, New Contexts: "Who today would believe that Ida Tarbell, a famous, college-educated, single, childless, self-supporting, and self-sufficient writer and editor, would be a vocal anti-feminist and anti-suffragist?"
When Which one of the following is true about a firm with a natural monopoly?
A natural monopoly is likely to arise when economies of sale exist over the relevant range of demand.
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.
Why did Rockefeller create a monopoly?
The key was vertical integration. The Rockefellers were able to control all upstream and downstream activities. From production to treatment to distribution. Their railroads could refuse to carry competitors' oil, etc.
The long answer can be found by searching "Rockefeller Antitrust."
