Tuesday, November 5, 2013
Monopoly
A monopoly is a company or group of companies that controls the supply of a product or a service. In the late 1800's, individuals such as John D. Rockefeller (1839-1937) and J. P Morgan (1837-1913) established large monopolies that came to be known as trusts.Imagine there is only one company that makes blue jeans. How do you think that would affect the price, supply, and variety of blue jeans available? Do you think that any monopolies exist today? If so, what, if anything, should be done about them?
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Having the only company that produces blue jeans would have positive effects.The prices would be low since there are not many supplies that will be produce because it might not be that popular.And while the product is being made there might be limits.The reason is because of the prices for the jeans are too low.But there might still be monopolies today.If so we shouldn't do anything about them.Hence the part that we would have to get rid of all the blue jean companies.So if we do get rid of them major problems would occur.
ReplyDeleteI think that if only one company produce blue jeans, they would make the price of the jeans much more expensive because blue jeans would mostly be rare for others. They should make less blue jeans because if they want to earn more money then they should make it almost impossible to purchase the blue jeans. They should only have a few varieties of blue jeans because if there are more varieties then people would be less interested in the jeans. I think monopolies do still exist today. I don't think we should do anything about monopolies
ReplyDelete(Not that you are wrong just adding) Sometimes not everyone will be interested in new things.Since there can be rumors that says bad things about it.Although I would still agree that monopolies still exists today.Hence the reason why we wear the jeans that are blue colored.
DeleteMaybe some people would want new things because they would like to show off and brag to others that they got the newest things.
DeleteYeah it might be true but not everyone wants to be popular
DeleteBut just by wearing blue pants doesn't mean that they're popular maybe the might become popular but others may just be interest in blue pants someone where
DeleteI think that would affect the price, supply, and variety of blue jeans available because everyone would have to buy blue jeans and there's lots of human, so it would be impossible for only one company to make only one kind of blue jeans.It would also be a problem for the money price because there would not be enough product to make the jeans and the amount of jeans selling. I think that monopolies exist today but we can't do anything about it though.
ReplyDeleteThe only company that makes jeans would be hard. A lot of people might want to buy jeans and it would take forever for just one company to make so much. Also the price might go up when a lot of people buy at the same company. I don't think monopoly exist today because there's more company making jeans and people would want to buy different kind of style
ReplyDeleteIt will affect the price,supply,variety by making them cheaper so many people would buy them since the are cheap.Yes I think that monopolies still exist today the reason is that there is there is still one item stores.Nothing should be done but if that company if they have more ideas for other thing they should if not join another company for ideas.
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