Are monopolies ever a good thing?

[Joshua Farrell]

Are monopolies ever a good thing?

I don't think they are. Monopolies make it so that what you pay, is generally always higher than what you probably should pay for. I would rather be able to know what business offers the same goods or service, but for less, if I ever need a second or third option for something.

 

[Trexxxy]

Well, I think a monopoly would mean that the business can set whatever price they deem fit and the customers would have no choice but to pay, because of the monopoly. Generally monopoly is every business owners dream, but for customers it is a bad thing.

 

[eLdavis]

Well, I think a monopoly would mean that the business can set whatever price they deem fit and the customers would have no choice but to pay, because of the monopoly. Generally monopoly is every business owners dream, but for customers it is a bad thing.

Like they say in every situation we find our self, there is always a party who would benefit from it. Let's say war for example, no one wants War cause of the amount of damage it causes and the lost of life but there are some who are making lots of money from it by selling weapons.

 

[Ralphjoe]

Are monopolies ever a good thing?

I don't think they are. Monopolies make it so that what you pay, is generally always higher than what you probably should pay for. I would rather be able to know what business offers the same goods or service, but for less, if I ever need a second or third option for something.

Monopolies in general and not a good thing for the consumers but it is only good for the business man who is taking advantage of the market to monopolize everything. It is bad for the consumers being that there would be no competition thereby eliminating choices and alternatives that people can take and it can also reduce the quality of the product that they are consuming because the one that is monopolizing the business would become relax as is the only one in the industry.

 

[Kunkun]

Monopoly is all about the business owners because that would mean a single individual is in charge of all the supplies so good news for the supplier but not really for the consumers because he has all the power to affect the prices

 

[Tislad]

Monopolies of product in business is very good it makes you feel like the king you are and brings more money into your business

 

[Kubiat-Abasi]

Well, if it's a one man's business, then you can monopolize but I don't subscribe to monopolization because it will cage your mind to think only your idea supersedes others and it might make your business stagnant from growth.

 

[Bousine123]

In terms of the buyer who is making the purchase, monopoly is not a good thing my friend. But if you happen to be the one at the other end (the seller), you would see it as a great opportunity.

 

[Nikolj]

Monopolize is never a good thing except its a one man's business, when one idea fails another can be substituted, that's why it is said two heads are better than one

 

[Blessedsam60]

Honestly, monopolistic economy isn't a nice idea at all because they can hinder so many things and leads to business frustration.
One part of the majority controls the business

 

[Suba]

Monopoly will be good for goods or services needed by the people which are generally controlled by the state such as electricity, mining goods. because monopoly means controlling the product in the market, so it will play a role in determining the price.

 

[Tislad]

Having the power to monopolise a business is good for a business because it helps you to be in charge of a product and you enjoy the price tagged to the product and that brings you more income

 

[TopSilver]

I mean when a product is that valuable and it's a good thing when you can invest in it but when a monopoly takes over the entire economy which is rare since most people know the law then I don't think it's a good thing at all.

 

[Ceeny007]

It is never a good idea when one human being decide the fates of a lot of people and that is what Monopoly is,it is a recipe for disaster

 

[Ghost1]

Monopoly is good from a business man point of view, he controls what he sells, how much he sells, where he sells but the it's bad for customers cos they are stuck with no other option

 

[Ceeny007]

Monopoly is never a good ideas as it makes things difficult for the poor masses,but on the business side it favours the monopolist

 

[Seno inyang]

If one must monopolise then it depends on that person and his business but it doesn't give room for expansion due to one settling on his ideas only.

 

[Ralphjoe]

In terms of the buyer who is making the purchase, monopoly is not a good thing my friend. But if you happen to be the one at the other end (the seller), you would see it as a great opportunity.

I completely agree with you that monopoly is good only to the owner of the business that is monopolizing the product or service but for the customers that opportunity the product it is definitely bad for them because they will not see all the alternatives and the company might by increasing the price of the product unjustly simply because they are the only ones that are producing the product.

 

[Kvngsammy]

Monopolies are majorly not good because the individuals or organisations that regularly monopolise goods or services usually rip off their customers or those who patronize them. If there's a monopolist who is considerate and not so greedy, it wouldn't be a bad thing.
In all, diversity opens up competition and makes all players step up and make them provide nothing short of the best

 

[Senator]

We can safely say that monopoly is a very good advantage ronthe business owner and not to you the buyer. For buyers, it is always good to have options for your purchases to safe cost