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?
If there is only one company that make blue jeans then I think it will affect the price of the item because if it's the only one, and people will want it then it will be very rare so the company will increase the price of the item. I think there will be a monopoly, and I think they will be earning big amount of money just like John D. Rockefeller.
ReplyDeleteI agree with you Andy but i would like to add that there are lots of monopolies now in the world also those companies can grow and be more like a monopoly
DeleteI agree with you Jackie, however, you should give examples of what you think they are.
DeleteIf there is only one company that makes blue jeans,I think that the price will be high,because only one company have blue jeans,you can not buy it other where.
ReplyDeleteI think that monopolies didn't exist today.
i agree because people cant buy cloth from other company so they have to buy even if the price were high.
Deletei agree but i want to add that the area that sells the jeans would be a small range because only one company owns which makes it harder for it to spread the news about their product and the amount of factories that makes it would be less but it needs more people
Deletei agree because people cant wear blue jeans if they dont buy from the company so the price must e very high
Deletei agree
DeleteMarty you have to add more to explain why you agree with the point.
DeleteIf there is only one shop for selling jeans,a lot of people will buy the jeans and the jeans will be pretty high priced.
ReplyDeletei agree with that statement because if there was only one company producing jeans, then the time and people needed would be greater
DeleteIf there was a monopoly there would be would be no competition because the company would have alot of ower and would be rich because all the supplies come from that industry. I don't think theres any monopolies today because it's against the law to be a monopoly.
ReplyDelete^ ashley :(
DeleteVery well said, I agree with you up until the point where you stated that no monopolies exist today.
DeleteAsh your response should be much more constructive and include more than a frowny face
DeleteI think that blue jeans would be very limited. They would be very expensive and mostly uncommon. Nobody Would want to pay so much for just blue jeans. ONly rich peole would be wearing them.
ReplyDeleteI agree with you because the blue jeans company think that making the cost of the blue jeans high would make them have a lot of money but people wouldn't waste they're money for one jeans, if they really don't have a lot of many to waste. Like you said,"ONLY RICH PEOPLE WOULD BE WEARING THEM"
Deletewhat he said was an example not the question but eaither way i disagree with you becaus e somebody would make a different kinda thimg for poorer people
Deletetrue bro ^
Deletethey do its just that it isnt as significant
Deleteif there is a monopoly then there would be no competition so that means that one company has all the power they control all the prices leading to crazy prices.
ReplyDeleteI agree with you on how the prices will go crazy since they have the power to do it
DeleteIf only one company made jeans then the price may rise and that company may have to be big and fast at producing the jeans or else there will be very little and they also have to use a lot of materials to make different types of jeans. There are monopolies still existing today. There is Microsoft a big company. They should make sure they don't keep having market failures.
ReplyDeleteIf there is only one company that makes blue jeans, I think that the price,and supply would affect the blue jeans available by making the prices high because they will be the only company to have jeans which makes them have a lot of customers.I don't think that monopolies exist today.
ReplyDeleteif there is only one jeans company in the whole state then the jeans will be very expensive and alot of people will buy the jeans.Some people will not buy cause it too expensive.
ReplyDeletei dont think monopoly exist today.
ReplyDeleteif there was only one company that makes blue jeans i think that the price would be higher, supply, and variety of blue jeans may be better or stay the same. i don't think that any monopolies exist now.
ReplyDeleteI disagree with you I do believe Microsoft can in a way be considered a monopoly.
Deleteit only one jeans company in here that jean it will very expensive because just only one in whole state, then people have more and that materials need a lot then the price will expensive, maybe not much people will buy it , but if whole state just only one jean company that company get rich,and today that have many company so price it good then people will buy it these it what i think...
ReplyDeleteWell stated Jing Jing, I completely agree with your assessment about the effect of monopolies on prices of items.
Deleteif only one company sold jeans then the variety would be low and the jeans would go up in price. the lesser the amout the more the money. which means they can bribe the government to make laws for them and bend it to their will which would be bad for the others.i think that there is no monopolies around these days as far as i can think of.
ReplyDeleteHow do you know this Jordan?
Deletewell... the government "might" want money so the company might offer it to them if they take it then they will have a law to benefit their own company.
DeleteIf there is only one company that makes blue jeans, the price will raise a lot and the supply and variety will be limited.I think Bill Gates is a monopolist since he is the only one who invented microsoft.I don't think anything should be done about him because it was his invention, if someone is unhappy,it's their problem.
ReplyDeletei agrees that the price of blue jean will rise.
DeleteI AGREE WITH YOU, BUT WHY IS IT THEIR PROBLEM. THEY SHOULD NOT BUY IF THEY DON'T LIKE IT. HOWEVER, IF IT'S THEIR PROBLEM THEY SHOULD FIX IT BY THEMSELVES. DO YOU AGREE?
Deletei agree with you that the price of blue jean would increase ,since there were only one company there.
Deletei agree the prices will rise and also bill gates is a big monopolist,
DeleteI agree with Ziyoda because they're jealous about their achievements, which make them uncomfortable about.
DeleteIf there was only one jeans company, there will be a less chance to own one. It will be expensive every time many people try to own it. There should be more jeans company to rely with. The more the people buy blue jeans, the more they run out which causes the company to get rich and will make the price of the popular jeans go up. They can end up as rich as John D. Rockefeller.I never seen a monoply today. Like for example, there are many other sneaker companies other that Foot Locker such as Flight Club, Foot Action, Champs Sports and many more.
ReplyDeletei agree with you shahria because the popularity of jeans will increase and will increase the money the owner is getting from the people buying jeans
DeleteIf there is only one companies that control the jean than the price o each jean will raise strongly because the amount of jeans that is in each store is limited. Also there might be limited style of jean too because it is from the same companies and also I don't think there is any monopolies.
ReplyDeletei agree with you because if more blue jean companies form than than there would be a competition between the 2 companies. so each company has to lower the price as much as possible for people to favor them more, there supply would be also increase. therefore if there was only 1 company, the price would be high since there are no other companies for blue jeans, the only place to get them would be this company, there would be a less supply of jeans also. its all about the money.
DeleteIn my opinion, if there's only one company that makes blue jeans, I think blue jeans wouldn't be as popular as today and the price would be a lot higher because of the rarity of blue jeans. The materials that blue jeans are used to make would also be more expensive. I do not think there are any monopolies that exist today.
ReplyDeletei disagree that jeans wouldn't be a lot famous because almost every american wears them,and i do agree that the prices will increase
DeleteIf there is only one company that makes blue jeans, then I think that would affect the price, supply, and a variety of blue jeans available. I think monopoly exists today. I think it should be no competition among companies.
ReplyDeletewhy do you think that if only one company makes the blue jeans then the price will be affected?
DeleteI think the blue jeans will be very expensive because there is only one company that sells jeans, and I think they need a lot of supply, sometimes they might not have enough supplies. Some people will not buy the blue jeans but some will.
ReplyDeleteI agree with you
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ReplyDeleteIf there is only one company that makes blue jeans. Then the price of blue jeans would increase a lot .I think there were no monopoly exist today and so it has nothing to do with them.
ReplyDeleteif there was to be only one blue jean company in the state than the jeans would be expensive. they would be expensive because since people need to buy it they would be willing to more for it. the variety would also be affected because, then there will be less variety. it would have a less variety because the style and material will not differ. In, conclusion if there was one jean company then it would be very dominating because people would need jeans and they would have to pay extra, cause there's only one company that produces the jeans.the monopoly that i can think about among companies would be intel and apple. intel is a chip brand which is almost used in every electronic such as a phone computer, and etc..
ReplyDeletealso apple can be considered a monopoly because almost every american has an apple product such as a iphone or ipad. (almost)
If there was only one jeans company then there will be a big competition between people because the jeans will be very expensive many people would want to buy it. For that reason the jean's price will increase a lot because the company know in anyhow people would want to buy and if it is more price the company will have lots of profit. I think now any monopoly didn't exit because now everyone is copying each other.
ReplyDeleteImagine there is only one company that makes blue jeans. The price of the blue jean will be more expansive than the jeans in the other companies. And they may provide many different kind of jeans as they could. Also i don't think there is any monopolies exist today, because in order to get richer and more famous they open stores all over the world.
ReplyDeleteIf only one company makes the blue jeans then the price of the blue jeans will increase because if only one company makes the jeans then it will be considered rare and unique and as a result more people will want to buy it. Since the company that makes the jeans is making a lot of money there could be a possibility that the will increase the price of it to get an even bigger profit out of their product.
ReplyDeleteI agree with you and I want to add to it that there will also will less type of jeans.
DeleteIf there is only one company that make blue jeans, then they will be rich, but the problem is, they have to have lots of workers at the company, and they should have enough supplies to make the jeans. I don't think there is any monopolies today.
ReplyDeleteIf there is only one company that is making blue jeans, the price of the jeans will be raise higher and the supply and variety styles of blue jeans will be rare because it is the only company that produce this product. Bill Gates, the chairman of Microsoft, is one of the example of monopoly that exists in modern world. I think nobody should censure about him because he is the first one who invent these products. They're doing good at this and people trust their products. So I don't think any comments should done about him.
ReplyDeleteExcellent response Hao Dong
DeleteIf there is only one company that sells blue jean then the cost of it will rise and the amount of jeans is limited. The jean will go up in price which make the amount more rare what can cause people to buy as fast as possible which can be limited. There will be no competition between since there is only one company
ReplyDeleteif there is only one company that sells bllue jeans, the sell price will increase and the lessen the producting of the blue jeans and there will be less varies, i think their is still some monopoly out there and we should lessen there power that control the supplies
ReplyDeleteif there is only one companies that control the jean then i will decrease the supply and not a lot of variety. also make the price higher because the company may not have enough of jean for everyone to buy.moreover,i do not think there is any monopolies because some companies are copy form the other companies.
ReplyDeleteI don't agree with you because,if only one companies that control the jean then all the people from places will come to this companies and this companies price will increase.
DeleteI want to add to your respond that you should make more type of jeans
DeleteIf there is only one company that makes blue jeans , then the price will increase , supply will decrease, and there will be not so many variety of blue jeans .It is because there is only one store and they will raise price in order to get a greatest profit because everyone want to buy it and they will produce less amount and types of jeans . I don't think any monopolies exist today.
ReplyDeleteIf there is only one company that makes blue jeans, the price will raise a lot and the supply and variety will be limited. I don't think there is any monopolies exist today, because in order to get richer and more famous they open stores all over the world.Moreover,.I think Bill Gates is a monopolist since he is the only one who invented Microsoft.I don't think anything should be done about him because it was his invention, if someone is unhappy,it's their problem.
ReplyDeleteI agree with you.
DeleteIf there is only one company that makes blue jeans,then the price will increase because there is no more company is like this and they might not have enough jeans.
ReplyDeleteI also want to add that the will be less in style
Deleteif there is only one company that make the blue jean, then it will affect the price of blue jeans because a lot of people want to buy it,and the company will increase the price of jeans so that they will earn more money.No i don't think there will have any monopolies it's because a lot of company made same things,because of people like it ,i think they will think that if the other company earn lot of money then they will copy them so that they could made money too.
ReplyDeleteIf there's only one company that makes jeans, the price must go sky high. Not a lots of people are going to bought it. The supply will go down, and a low variety. I don't think there's any Monopoly anymore today.
ReplyDeleteif there are only one company that makes blue jeans then the price will go a lot higher and variety will be limited.
ReplyDeleteif it on company make jeans then the price will be heigther. Everybody will wanted . that the reason it will be expansive. also less producing of jean less varies .I don't think it have any monopolies exist
ReplyDeleteI agree wit Xing Peng because if there was one company that made only one kind of jeans the price will get higher so every one else would wanted. And also there is no more Monopolies exist today.
DeleteI agree because the wage would be higher because their would be only one company
Delete---samiha akter
If there was only one jeans company the price would be expensive,and there is no monopolies exits today.
ReplyDeleteIf there is only one company that makes blue jeans. I think that would affect the price will go up that only some people can buy the jeans. If there is variety of blue jeans there there won't have a lot of different type and kind of blue jeans. I think that there are few monopolies exist today because some of the company doesn't want people to take their idea. If anything, should be done about them, They should make different type of thing base on one.
ReplyDeleteif there was one company andn it only made blue jeans then the price would be higher. And the supply will decrease be and it would be rare for people to get because there is only a limited of supply of blue jeans
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ReplyDeleteIf there is only one company that makes any color jeans , the price will raise a lot and the supply and variety will be limited . I think the is no more monopolies exist today because in order to be rich and bieng famous they open store all over the world.
ReplyDeleteIf there is company that make blue jeans then the price will be higher because if only one company make the jeans then it will be considered and unique and more people will want to buy it.
ReplyDeleteIf there was only one company that produced blue jeans then prices would increase due to high demand and their supply would lower because everyone would be buying from them. I do believe monopolies still exist to this day, and their power should be limited.
ReplyDeletei agree with you because the supply would be lower
DeleteIf there is only one company that makes jeans, the price must go so high.Because the company controls the market and they can raise the price whenever they want.If the price goes up a lot of people is going to buy jeans before the price goes up. The supply will go down and a low variety. I don't think there's any monopoly anymore today.
ReplyDeleteand*
ReplyDeleteIf there only one company sell blue jean, the price of the blue jean will be much higher.I think the company should decrease the supply but increase the variety of the blue because the least amount of the blue jean the expensive it are. I think there still have monopolies around the world today,
ReplyDeleteI agree with you that the price will rise higher.
DeleteIf there is only one company that makes blue jeans , than the price will increase and there will be less supply.And will be no so many design of the blue jeans. I believe that there is any monopolies today .
ReplyDeleteIf there is only one company that make blue jeans then the price and will be high because only one company was making the blue jeans and everyone wanted to buy so the price was high. I didn't think the it will have any monopolies exist because it may have more blue jeans company come up so i think i will not have any monopolies exist
ReplyDeleteIf there on;y has one company that sell blue jeans,then the price will increase that many people want to buy because it only could be buy in one store and other did not have this kind of blue jeans. I think monopolies does not exist because you could buy everything everywhere.
ReplyDeleteI believe that if there is only one company that makes blue jeans then the prices will be immoderately high because there is no other company to emulate with that certain company so they have the right to increase prices and we can do anything. Also the variety will not change because its the same company coming up the idea so the product will be the same.Lastly,there will be imperceptible amount of jeans because one company can't make that many jeans so they will produce less produce. I don't think there are any monopolies that exist today.
ReplyDeleteif there was only one company that is makingn blue jeans than it would be a problem because the price would get higher and people would buy then the jeans would ran out of money
ReplyDeletei think if there was a monopoly on jeans then the companie that has the monopoly would raise the prices so they could make more money and i think the supply of the jeans wold increase.I think there is a monopoly in military contracts because when a company wins a contract they r the ones who get to make it and they get to control the price of it.
ReplyDeletei agree with you zhan because if their were a monopoly for jeans the price could be whatever the person wanted
Deletepeople might just buy something thats not jeans
DeleteIf their was only one store for blue jeans then that store would make a lot of money but also sometimes not have jeans available because a company has to produce the jeans inorder for it to be sold. monoplies might not be available because we have better things then monoply. --- samiha akter
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ReplyDeleteif their were a monopoly in jeans the producer could put any insane price and people would still buy it cause he owns the only jean making company
ReplyDeletepeople would just buy other pants if it was insane price unless there are rich
Deletemonopolies probabaly do exist and other companies cant control there products because of patents. i think there are good and bad things if there was only 1 jeans company in the world because if there was then they would have to make quality stuff to make sure people buy it to keep there monopoly running. Also they might go bankrupt because there arent alot of jeans to choose from and people would prefer to just get sweatpants or shorts or something
ReplyDelete(Seewing Zheng) When there is only one company then jeans would be sold faster and then the employer need to raise up their prices so it won't be sold out fast. But the variety of jeans available would decrease. The brand of the jeans would be the same and there wouldn't be any new styles. Then everybody would be wearing the same pants. I'm not quite sure if there is any monopolies today but i think there is.
ReplyDelete(Avi Ni) if there is only one company that makes blue jeans,then the price will be higher since people kept on buying them(well it's the only the company that sells blue jeans).the variety of the blue jeans will be the same,because it's from the same company. i do not think there is any monopoly today.
i disagree if there were more factories or companys then thing would go by quick
Deleteif there is only one blue jeans company, the price of the jeans would increase and be more expensive, the supply and variety would also increase. I don't think there are monopolies today.
ReplyDeletework with tony pan and tony zou
Deleteits not fair the company has the ability to raise the prices on the jeans and people have to suffer just to wear jeans
ReplyDelete3
ReplyDeleteIf there was only one company that made blue jeans,how I think that would affect the price,supply,and variety of jeans available is the price will get higher because there would only be one company that makes the jeans and they would need to make more money to keep the company running.Also, the supply of jeans would depend on how much money the company is earning. For example, if less people bought jeans then the company would produce less jeans,wherefore, if more people bought jeans, them the company would manufacture more jeans do to the amount of money they are obtaining.Furthermore, the variety of jeans would also depend on how much money the company is gaining.Different variety of jeans would affect the price of the jeans because of the type of material they are made from.Yes, I think monopolies exist today to control the supply of a product or a service, also the overhead cost is to high for competition to exist.
ReplyDeletekimberly
DeleteImagine there is only one company that makes blue jeans. I think that it would affect the price, supply, and variety of blue jeans because it affect how one company work .I think that few monopolies exist today.It should be limited
ReplyDeleteA 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.
ReplyDeletewe know what monopoly and trusts are.
ReplyDelete