Monopoly is something people have different opinions about and there are advantages and disadvantages to it.
Advantages
· Economies
· New products
· Profits
Monopoly would not be an organized idea if there were no advantages, and the advantages are something which people stand by and use to ensure that there is going to be success within the establishment.
The profits and the economies are going to strive and improve as the new and improved products are created and sold within the institution which is going to use the monopoly theory. This ensures that the cycle of the business is going to be a success and that there are little problems which can be fixed.
Disadvantages
· Lack of incentive
· High prices
· Inefficient
However, monopoly encourages businesses to be un-inventive and they are not going to create different products for the customer as they already know what works. The high prices are going to put many different potential buyers off and this means that the whole concept is going to be inefficient and therefore not successful.
There are always going to be many different opinions on the matter of monopoly as there are going to be many different companies which do well and others which do not benefit from this business plan. It is going to depend on the business and how the customers see it as working for them as to whether or not the monopoly plan works.
Advantages
· Economies
· New products
· Profits
Monopoly would not be an organized idea if there were no advantages, and the advantages are something which people stand by and use to ensure that there is going to be success within the establishment.
The profits and the economies are going to strive and improve as the new and improved products are created and sold within the institution which is going to use the monopoly theory. This ensures that the cycle of the business is going to be a success and that there are little problems which can be fixed.
Disadvantages
· Lack of incentive
· High prices
· Inefficient
However, monopoly encourages businesses to be un-inventive and they are not going to create different products for the customer as they already know what works. The high prices are going to put many different potential buyers off and this means that the whole concept is going to be inefficient and therefore not successful.
There are always going to be many different opinions on the matter of monopoly as there are going to be many different companies which do well and others which do not benefit from this business plan. It is going to depend on the business and how the customers see it as working for them as to whether or not the monopoly plan works.