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The Pros And Cons Of Monopoly

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mo·nop·o·ly noun the exclusive possession or control of the supply or trade in a commodity or service. Amazon is currently one of the biggest growing companies and is slowly owning the game. So let 's take a deeper look at the company and see how it resembles a monopoly. Monopoly’s have been quite a bad thing in the past becoming extremely corrupt buying other companies and then just shutting them down. That is why there is a law preventing for a monopoly existing. There are many characteristics of monopoly’s and a lot of them exist in a lot companies but one that is growing at an extremely fast rate is Amazon. Amazon is taking over the food stores Amazon is now worth two of Walmart Amazon has now already made a grocery store and it currently has 0 workers in the entire store and it is doing better than Walmart in the areas that it is located which is currently only California. The way Amazon 's grocery store works is that you have to have an amazon account in order to go into the store and you go through the store like normally get all of the groceries you need and when you leave there is a scanner that changes everything in your cart to your amazon account. Amazon also has their prime membership which in the case of food you can add food products off their website and if you have prime get them shipped to you in less than twenty four hours; This is also slowly taking business from stores like walmart. To become a monopoly you must have no competition and Amazon is slowly
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What is a monopoly: a monopoly is the exclusive control of a commodity or service in a particular market. For example famous monopolies include Andrew Carnegie's steel company which in the 1900s was responsible for almost all the steel production in the world and John D Rockefeller's Standard Oil company which responsible for almost all the United States production of oil. In their time these two companies were a few of the biggest ever.

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This market usually exists when there is only one firm in the sector/industry. A monopoly usually has no close substitutes. For example: a local electricity company, or a railway service in a city. In order for these firms to be able to maintain their monopoly

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