Order Now Order Now
Login / SignUp
Order Now

Home Free Essays

>>

All Subjects

>>

Economics

>>

DB 9: Monopoly Options Menu: Forum

DB 9: Monopoly Options Menu: Forum

Download

DB 9: Monopoly Options Menu: Forum

[Name of the Writer]

[Name of the Institution]

DB 9: Monopoly Options Menu: Forum

Monopoly is the biggest challenge for society as the provider rules the whole market in product or service provision. All the power lies to the firm that stands alone in the market and it has the authority to set the price. At the same time, none of the company can compete against the monopolist company. A monopoly can bring a lot of problems in the market. It raises the prices for the goods and reduces the quality of the product or services. Consumers are the first to directly suffer from monopoly. Likewise, it is happening in the United States. Although monopolies are not illegal in the United States, it is a burden for the economy (Buchanan, 1974). Monopolies can play with the market by decreasing the supply in the market while keeping the prices higher. Sometimes, monopolies take advantage of it in an unethical manner.

In a conference, Elizabeth Warren highlights the monopolist companies in the United States. She warns about the consequences that these big companies are causing problems for the general public. The monopoly of the market in a country can also cause inflation. As the provider can set prices, it causes cost-push inflation. At the same time, monopolies do not see any profit in producing new and latest products. Therefore, these companies do not focus on enhancing the quality of a product. In comparison to the monopoly, the competitive market is highly preferred. The competitive market helps to flourish the economy of the country. It provides a platform for the firms to improve the quality of their product. Moreover, it also offers affordable prices. Consumers feel more satisfied because they have more options to buy a product. According to the price and quality, a consumer is open to choose the product in a competitive market.

References

Buchanan, J. M. (1974). Good Economics--Bad Law. Va. L. Rev., 60, 483.

Senator Elizabeth Warren Keynote. (2016). |America's Monopoly Problems.YouTube. Retrieved 18 April 2019, from https://www.youtube.com/watch?v=M7KZ0M0gc18

More Subjects

Education

(5614)

English

(2294)

Business And Management

(1760)

Healthcare And Nursing

(1684)

Psychology

(929)

History And Anthropology

(743)

Sociology

(572)

IT

(446)

Education

(429)

Finance, Accounting And Banking

(419)

Philosophy

(347)

Political Science

(310)

Law And International Law

(308)

HRM

(300)

Economics

(288)

Biology And Life Sciences

(267)

Literature

(249)

Marketing And PR

(238)

Culture

(140)

Environmental Science

(109)

Geography

(92)

Statistics

(64)

Maths

(53)

International Relations

(44)

Physics

(30)

Chemistry

(25)

Capstone

(8)

Project Management

(8)

Reflective Thinking

(7)

Critical Review

(3)

Linguistics

(3)

Critical Appraisal

(2)

BUS 2090

(2)

English 12 Drama

(1)

Business Information Technology

(1)

Operational Plan

(1)

Corporate Finance

(1)

L2 Photography And Design

(1)

Food Nutrition

(1)

Leadership

(1)

Nursing

(1)

MBA

(1)

Social Enterprise Project

(1)

Government

(1)

Our tools

Essay typer Grammar Checker Plagiarism Checker Citation Generator

Useful Links

Free Essays About Blog

Contact me

info@freeessaywriter.net

If you have any queries please write to us

Join our mailing list

Invalid Email Address!
Thank you for joining our mailing list

Please note that some of the content on our website is generated using AI and it is thoroughly reviewed and verified by our team of experienced editors. The essays and papers we provide are intended for learning purposes only and should not be submitted as original work.

@ All Rights Reserved 2023 info@freeessaywriter.net

Privacy Policy Terms of Service Use Contact
Back to top