Can Plumbing be monopolized?
Something that lurks behind industries waiting to grab hold of whatever it can, do you know what it is? If you guessed monopoly, you're probably right.
Pros and Cons of monopolies
Thinking about it one company per industry. It looks out weird right? Yeah maybe it does, but there are a lot of good things in the monopolizing of an industry. Let's say for example, monopoly of plumbing services, supplies and plumbers in Sydney. From the point of view of the corporation or the owner of the said earlier, this would be a really good standpoint because of their control on prices, supply and services.
Now let's take our attention towards the clients/customers of plumbing in Sydney. If the service is "that" good, well, in all probability there would be no questions asked about their choice. But if the service was not good enough, there would only be two choices for them, to avail of it or not to.
Speaking of the bad side of it and if you know a bit about how the industry flows and works, there's that problem of a status quo in advancement and not reaching the full potential of the industry due to the lack of competitors. The owner(s) will also be liable for all the faults and misfires of their products and services.
What or who is responsible?
Actually, both parties are responsible for such an event whether the outcome is good or bad. Consumers flocking over a certain amenity, product or service due to its quality or only by good marketing tactics can be a part of the process. Well-off companies within a certain industry can also encompass or own the whole market, given the right circumstances of course.
These factors can help progress the development of an industrial monopoly. But there is always the choice of stopping where you shouldn't read, both for companies/owners and consumers alike.
How industries react to a monopolizing group
The most common move that industry members do is take part in a cooperative movement or an alliance of willing participants to break even with prices of the monopolizing sector. The involved parties in such an assembly socially benefit from each other and eliminate most of the competition problems that occur during individuality by setting standards, ceiling and floor prices. It's just like a larger monopoly composed of smaller businesses right?
Do or Don't?
Given a certain standpoint, sometimes deliberate monopoly is very tedious and complicated to achieve. As I said earlier, given the right situation and factors, anything can be monopolized. Only the decisions thrown into it can stop it or help it thrive regardless if the monopoly is of good or bad intent.
Pros and Cons of monopolies
Thinking about it one company per industry. It looks out weird right? Yeah maybe it does, but there are a lot of good things in the monopolizing of an industry. Let's say for example, monopoly of plumbing services, supplies and plumbers in Sydney. From the point of view of the corporation or the owner of the said earlier, this would be a really good standpoint because of their control on prices, supply and services.
Now let's take our attention towards the clients/customers of plumbing in Sydney. If the service is "that" good, well, in all probability there would be no questions asked about their choice. But if the service was not good enough, there would only be two choices for them, to avail of it or not to.
Speaking of the bad side of it and if you know a bit about how the industry flows and works, there's that problem of a status quo in advancement and not reaching the full potential of the industry due to the lack of competitors. The owner(s) will also be liable for all the faults and misfires of their products and services.
What or who is responsible?
Actually, both parties are responsible for such an event whether the outcome is good or bad. Consumers flocking over a certain amenity, product or service due to its quality or only by good marketing tactics can be a part of the process. Well-off companies within a certain industry can also encompass or own the whole market, given the right circumstances of course.
These factors can help progress the development of an industrial monopoly. But there is always the choice of stopping where you shouldn't read, both for companies/owners and consumers alike.
How industries react to a monopolizing group
The most common move that industry members do is take part in a cooperative movement or an alliance of willing participants to break even with prices of the monopolizing sector. The involved parties in such an assembly socially benefit from each other and eliminate most of the competition problems that occur during individuality by setting standards, ceiling and floor prices. It's just like a larger monopoly composed of smaller businesses right?
Do or Don't?
Given a certain standpoint, sometimes deliberate monopoly is very tedious and complicated to achieve. As I said earlier, given the right situation and factors, anything can be monopolized. Only the decisions thrown into it can stop it or help it thrive regardless if the monopoly is of good or bad intent.