how does the game monopoly relate to real life??

Answer 1

Highlights economics and risks one takes in life. It examines risk taking and decision making and how it can impact in a positive or negative way.

If translated literally and paralleled to property investment it shows that it doesn't necessarily take a lot of money to create a large portfolio. One can start with a small investment and expand one's portfolio by acquisition and/or development.

Whilst it doesn't really explore use of loans it does show how risk can either make or break and how good tactics and risk management can pay off. It also shows how one can monopolise a field and expand through take over of a weaker concern or by monopolising a certain asset in high demand eg. utilities or all train stations.

Fees for services are acquired by the example of landing on a property and the 'user' paying a fee and, as one improves a service eg. value adding through hotel, the cost to 'use' increases. There is the additional example of the benefit of not throwing all ones eggs in one basket and how lower costing investments can in the long run also provide a steady and reliable cash flow. eg. the hare and the tortoise.

The chance and treasure chest cards show how opportunity may knock at your door and the results that can be achieved by one's use of opportunities that present in life. By the same token poor accounting can be a downfall by way of tax payment, bank error as well as,if playing in a greedy fashion, and assets are high but cash flow is poor, there is a greater risk of incolvency/bankruptcy.

Jail and parking shows that sitting on your butt or bludging won't get you very far but that making an effort ultimately pays off.

If you play the game and concentrate as you play it [on how it relates to life in general] you will probably find more parallels, as the above is not an exhaustive list. You may even notice how players interact and react to situations and this too parallels real life eg. the cool cucumber, the slow/quiet achiever, the gambler who reacts badly when losing, the bragging achiever, the bitter non achiever accusing the rich of getting richer and the poor poorer, the loser blaming everything and everyone for own downfall.

Remember it is just a board game that is naturally limited for obvious reasons. But to say it doesn't relate to real life is a narrow minded and poorly educated opinion.

Answer 2

it helps others see what it feels like to become an entrepreneure(sp?)
and how to sustain their own business and mostly how to manage $
here is what my sources hav to say:
...Players compete to acquire wealth through stylised economic activity involving the buying, rental and trading of properties using play money, as players take turns moving around the board according to the roll of the dice. The game is named after the economic concept of monopoly, the domination of a market by a single seller....
...Monopoly involves a substantial portion of luck, with the roll of the dice determining whether a player gets to own key properties or lands on squares with high rents. Even the initial misfortune of going last is a significant disadvantage because one is more likely to land on property which has already been bought and therefore be forced to pay rent instead of having an opportunity to buy unowned property. There are, however, many strategic decisions which allow skilled players to win more often than the unskilled...
...Much of the skill comes from knowing how to make the best use of a player's resources and above all knowing how to strike a good bargain. Monopoly is a social game where players often interact and must "deal" with each other in ways not unlike "real world" real estate bargaining. Note that the best deal is not always for the most expensive property; it is often situational, dependent on money resources available to each player and even where players happen to be situated on the board. When looking to deal, a player should attempt to bargain with another player who not only possess properties he or she needs but also properties the other player needs. In fact, offering relatively fair deals to other players can end up helping the player making the offer by giving him or her a reputation as an honest trader, which can make players less wary of dealings in the future. What is more, most people play Monopoly with the same group repeatedly. For this reason, such a reputation can have effects far beyond the game being played....

Answer 3

the game teaches one to be fluent w. numbers and to be able to bigger or less calculate odds. It also sends the message that there is money to be made in real resources, inspite of the actuality that it would not easily simulate certainly real resources transactions o.k.. It also forces the gamers to practice the artwork of negotiation. that's no longer the most mentally stimulating sport in the international, yet i'd likely save a replica reachable if I had young ones.

Answer 4

Makes players aware that unexpected things come up and take your cash (community chest, jail, etc.) when you are trying to save $ for property and then a house which is also in real life. Then to get ahead, buy more and collect rent. It just mimicks the ups and downs of life's finances. Much the same as the actual game of "Life".

Answer 5

In reality, it doesn't apply to life at all. Not too many people can go around buying huge amounts of real estate, just to develop them. The game was developed during the depression, mainly for people to "escape" their lives, and see how the other half lived, even if it was only fantasy. :)

Answer 6

It shows you that if you land in the wrong spot at the wrong time it will cost you. So watch the decisions you make, and even when you make the right decision life happens.

Answer 7

you have to be prudent when dealing with money