economic
2006-10-14 12:01:09 · 4 answers · asked by merve1433 2 in Business & Finance ➔ Advertising & Marketing ➔ Other - Advertising & Marketing
In a monopolized market, the consumer does not have a choice in the source of a product which leads to high costs. The market then can rise uncontrollably restricting the flow of goods to the customers. Such a market has such a high barrier of entry that the monopoly remains in control unless either the government impose anti trust laws or another large corporation branches out and enters a new market.
2006-10-14 12:06:00 · answer #1 · answered by 1995 Civic 2 · 0⤊ 0⤋
i agree prices and product selection are really limited also there is no sense of entrapenural spirit people won't be as motivated to release new products/services if they feel there is no market also it really cuts out the small business owner usually the big boys are at the top so its hard for the small ones to scratch the surface.
2006-10-14 21:09:56 · answer #2 · answered by So Happy!! 4 · 0⤊ 0⤋
Price gauging. Since there isn't any competitors, the consumers have only one choice of where to buy. Supply and demand. The company can charge any price they want to. The consumers will buy it at their high price or do without.
2006-10-14 20:42:13 · answer #3 · answered by Mariposa 7 · 0⤊ 0⤋
If technology changes, bye-bye! (Think vinyl records and tapes, or, tapes and CD's)
2006-10-14 21:15:12 · answer #4 · answered by Smilin' Fred 4 · 0⤊ 0⤋