![]() You could say that they have a local monopoly and that they are unfairly leveraging it to their advantage. What if the owner of that station owned all of the stations within 500 miles and forced everyone who filled up to buy that 5 dollar gum with each fill? Fair? Hmm…pausing…probably not. Like…what is fair here? If a gas station uses its leverage as a place where SUVs go to drink up, is it fair for that station to sell a pack of gum for 5 bucks?īut what if the station forced you to buy that stick of gum with every gallon of gas? Do you have alternatives? The key issue revolves around what governments define as quote “fair competition” unquote. However, regulators got all wooly on them for using that monopoly leverage to restrict business from peripheral competitors. Is it bad that these companies produced such amazingly highly desired products that they grew into monopolies? No, not at all. Or today, Google Search, which is almost a monopoly with some 90-ish percent of searches on its servers. Think: Microsoft in the 1990s, where its operating system was pretty much the only way in which computers around the globe could work. and it’s not related to the teen kissing disease. When you own everything and can raise rates to pretty much whatever level the market will pay before just opting to do nothing. You take that cash, buy more properties, build more houses and hotels and eventually…rule the world. The destroyed friendships.Ĭontrol a whole side of the board, build houses and then hotels on it… and odds of a competitor landing there to suffer huge fees are wickedly high. ![]() Companies that create monopolies dominate an industry to the point where other potential competitors. The dude in the weird chimney sweeper hat. A monopoly is a market where one business acts as the only supplier of a good or service.
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