Are monopolies ever a good thing?

[Tislad]

When you have that power to just be you believe me you won't want a rival because you will look so unique and happy so yes monopoly of product is a good thing.

 

[tyrim88]

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.

One thing about monopoly is that it always make the big player in the industry to be having a field day in the scetor,and this is not good for the market,because they will have to determine the prices of things.

 

[Joseph212]

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.

Sure monopolies make it so that what you pay is generally always higher than what you probably should pay for but inno this Monopoly is an old games

 

[Suzzy001]

Monopoly is always the joy of every business person but the other side for customers, but when there is high competition, business owners will have to sit tight and straighten up their head while customers rejoice.

 

[Ghost1]

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

This is when you are saying this from the producer point of view. From the customers point of view this very bad, it's gives them no option

 

[Tislad]

This is when you are saying this from the producer point of view. From the customers point of view this very bad, it's gives them no option

Well that is why it is good for business, we all want opportunities that is what life is all about, if not there won't be the rich and there won't be the poor.

 

[Suzzy001]

When you have that power to just be you believe me you won't want a rival because you will look so unique and happy so yes monopoly of product is a good thing.

my answer is a strong no. That thing usually makes business owners become very proud and they will start acting funny as if they have the final say on everything

 

[Ghost1]

I believe the question is at what way is monopoly good. monopoly are good for the the producers or owners of such products. They are in control

 

[Lucy ID]

No, it's never a good thing at all. It's bring about price instability of such goods and services because there are no other competitors and the consumers does not have a choice but to buy it

 

[Tislad]

my answer is a strong no. That thing usually makes business owners become very proud and they will start acting funny as if they have the final say on everything

Trust me if anyone has money that person will be proud power corrupt people but monopoly of power still can control your attitude it's so different from power or riches believe me.

 

[Kelly5]

Monopoly is a very good thing indeed. Imagine you been the monopoly of a particular market product or services, you can imagine what profits that will meant for you before any competition comes around

 

[Kunkun]

Monopolies would be a good thing for those enjoying the monopoly but definitely not for those affected by it so I think it should be reviewed because it's not too many instances that monopoly works best

 

[Cyrus@21]

Monopolies are not good for the generality of the populace. Monopolies are businesses that are owned by only one person, when this is the case, it has so many effects on the buyers:
1. Price control is in the hands of the monopolist. Hence, unfavourable pricing system.
2. There may be shortage of supply of service or product.
3. There are tendencies of sharp business practices.
4. It does not offer choice to the consumers, etc.

 

[nimzy]

Monopolies can be considered in two different dimensions of which one may be beneficial to the producer or the production company while in the other hand is compelled a consumer to have no choice of product when the price is in high extent.

 

[Maayong]

Monopoly is a good thing because it can benefit from economies of scale by increasing size they can experience lower average costs important for industries with high fixed costs and scope for specialisation

 

[nimzy]

It's a good thing depending on how inindividuals view and see how it's to them. it can be benefited to some set or section of people and also be of negative impact on other section of the people in the same community.

 

[Bright7777]

Monopoly can never be a good thing in the economic because it's take the power of making choices from the consumers and give all the power to the producers which means they can do what they like and the consumers will no choice but to buy.

 

[Mentor]

Monopolies in the aspect of production are considered good or economically advisable in cases where free-market competition would be economically inefficient, the price to consumers should be regulated, or high risk and high entry costs.

 

[Ghost1]

No, it's never a good thing at all. It's bring about price instability of such goods and services because there are no other competitors and the consumers does not have a choice but to buy it

This is when you are looking at it from the customers point of view. If I'm a producer I would be my joy to control my price just as I like. It's bad for consumer but perfect for producers

 

[Essy]

I believe the government choose an open economy with free competition to reduce monopoly for a reason because the government also knows that monopolistic markets rip off citizens than what they are actually meant to pay!