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jump to last post 1-4 of 4 discussions (5 posts)

What is your definition of a Monopoly, and if any exist can you name some?

  1. bradmasterOCcal profile image31
    bradmasterOCcalposted 2 years ago

    What is your definition of a Monopoly, and if any exist can you name some?

    https://usercontent1.hubstatic.com/12728720_f260.jpg

  2. SgtCecil profile image93
    SgtCecilposted 2 years ago

    A monopoly is when a single company gets so big that they control the market to the point where they have an "unfair" advantage. In other words, competition is pointless. It's easier for the consumer to just lie down and take whatever the monopoly gives at whatever price they want.

    Example? Just look down. If you're wearing pants you probably have a zipper. I'll bet you a dollar that this zipper has "YKK" on it. That's because it was made by the YKK Group. They have a zipper monopoly. The even have a monopoly on the machines that make the zippers. They're into other things but they control the zipper market.

    People don't complain because people don't buy zippers. It's the clothing companies that buy zippers and they don't complain for the same reason you didn't complain about Microsoft's Windows in the 90's or Monsanto's corn today or InBev's beer tomorrow: the price doesn't hurt enough to do something about.

    1. bradmasterOCcal profile image31
      bradmasterOCcalposted 2 years agoin reply to this

      That is true, but what about all the small to medium businesses that have been lost to these monopolies? That is the point of my question. Thanks

  3. bluesradio profile image72
    bluesradioposted 2 years ago

    A Monopoly is when a business or at most a business or two control the entire market...If you want to know what is a monopoly, look at the radio industry which is basically controlled by a select few entities such as Clear Channel and Radio One.....
    Or the concert field, which is almost exclusively controlled by Live Nation for big shows...

  4. tamarawilhite profile image92
    tamarawilhiteposted 2 years ago

    The company that sells 95% of the world's zippers comes pretty close.

 
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