ECONOMICS
COMPETITION AND MARKET STRUCTURES
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Natural Monopoly
|
|
|
Technological Monopoly
|
|
|
Government Monopoly
|
|
|
None of the above
|
Detailed explanation-1: -What is a Technology Monopoly? Facebook, Telus, Google, Rogers, Microsoft, Amazon-you have heard their names and you might even use them on a day to day basis. Raking in billions of consumer dollars each year, these tech giants have dominated the global market.
Detailed explanation-2: -Apple’s continuous acquisitions of companies are great examples of the monopolistic control it exerts over tech. The company has made consistent purchases of other brands to control potential competition and innovations within the industry.
Detailed explanation-3: -Perfect real-life examples are mobile operating systems, as iOS and Android partake in over 99% of the market, making it one of the most accurate examples of oligopoly situations on the level of the EU, as well as the global level.
Detailed explanation-4: -Introduction. The market structure of Apple store is oligopoly.