A monopoly is a company that has control over all sales and distribution of a product – to the extent that no other company can compete with it. For example, if your cable or utility companies are the only sellers of their service and you can’t really choose another company to buy from, they hold a monopoly on that particular service. Remember the game Monopoly? The goal was to own EVERYTHING.
Posts Tagged ‘antitrust laws’
A Monopoly is…
Friday, August 21st, 2009Antitrust Laws are…
Friday, August 21st, 2009Antitrust laws are created to prevent companies from adopting certain business practices (like monopolizing an industry) that can restrict trade. These laws are in place to make businesses more competitive, which is better for the economy as a whole.