110k views
4 votes
What is a monopoly and are all monopolies bad for the economy?

User Xyanight
by
7.7k points

2 Answers

2 votes
No because there are monopolies that make the economic firm more efficient for the economy and some tat make the firm less efficient .And a monopoly is the control of supply or trade in a commodity or service.
User Vinayak Jadi
by
7.9k points
3 votes

If you are talking about a what i monopoly is then you could say it is a Company or Industry that dominates its competition. This means that the monopoly makes its oponents go out of buisness. This is a bad thing for the econemy because the monopoly can start controling the government and it could become corrupt. Hope this helps your question.

User Matt Brunell
by
8.6k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories