The Facebook company is ahead of all its competitors like Google+, Twitter, etc., and has experienced growth both in the number of users and advertisers and through the acquisition of other companies like WhatsApp and Instagram. Monopoly example 3: Facebookįacebook is one of the oldest social media platforms and it has a huge chunk of the market share. The Google company has left its competitors, Yahoo and Microsoft, behind in terms of innovation and technological advancement. The company has grown vastly over the years and provides web services that are interlinked with each other such as Google Maps, Gmail, Google Drive, etc. Google is the biggest web search engine, and with its algorithm, it controls more than 70% of the market share. It holds a market share of more than 75% and is the market leader and virtual monopolist in the tech space. Microsoft is a computer and software manufacturing company. Most of the recognisable monopolies in the UK are connected to the technology industry and have been termed as the ‘big tech’ monopolies. Real-life examples of monopoly markets in the UK The UK also has a mechanism that investigates and provides ad hoc remedies to certain failures of the market mechanism. The UK may not have an ‘anti-monopoly policy’ like the US, Germany, and the European Economic Community, but it does have a legal framework that establishes which behaviours are acceptable. It is also relevant to note that in the UK, a firm with over 25% of the market share is defined as a firm with monopoly power. This enables it to exclude all other viable competitors.Ī pure monopoly occurs when a firm is the single seller of a good or service in an industry, which means that it has 100% of the market share. A monopoly is a market situation where one company has a dominant position in an industry or sector.
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