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Monopoly refers to a term in economics that signifies peculiar market situations. A company is said to be enjoying a monopoly pertaining to a particular product or service if deliberately or per chance it becomes the sole supplier of a specific product or service in the market…
This corrodes and undermines the spirit of healthy competition in the free markets. Companies end up monopolizing the markets owing to a variety of reasons. It may happen because a company may be the individual and sole inventor of a particular product that commands a high and persistent demand in the market. Monopolies may also be brought about by the consolidation of the corporations that manufacture a particular product. Economists do have an ambiguous and mixed response towards the monopolies. Some experts say that governments should not try to alter or break the monopolistic situations in the free markets as they signify the ultimate will and desire of a free market. There exists on e other school of thought that though resents the government interference in the free markets, do believes that some sort of antitrust action or statutory rulings should be initiated by the state to tackle the situation of absolute monopoly in the free markets. Though it has been commonly seen that the accusations of monopoly are often levelled against the companies who enjoy a competitive edge in the markets pertaining to the manufacturing and the supply of specific products or services, on do genuinely comes across situations where some companies deliberately resort to anticompetitive practices to command a position of monopoly. ...
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