Monopolies

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What is a monopoly?
A business with 25% or more market share
1 of 5
What is the impact of this on customers? (3)
Prices are increased, there's less choice, the prices may be low but then increase
2 of 5
Give 6 benefits of a monopoly
Economies of scale, less risky shares, saves time shopping around, stability, removes unnecessary duplication of services, draws people to other businesses around the monopolist
3 of 5
Give an example of a monopoly (a business)
Tesco
4 of 5
Name a market which only has one or two businesses
Water companies, Trains
5 of 5

Other cards in this set

Card 2

Front

What is the impact of this on customers? (3)

Back

Prices are increased, there's less choice, the prices may be low but then increase

Card 3

Front

Give 6 benefits of a monopoly

Back

Preview of the front of card 3

Card 4

Front

Give an example of a monopoly (a business)

Back

Preview of the front of card 4

Card 5

Front

Name a market which only has one or two businesses

Back

Preview of the front of card 5

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