It expanded, convincing individual miners to join. De Beers Consolidated Mines came about in South Africa around 1888 as a union of various diamond mining entities.ĭe Beers enjoyed a monopoly in the 20th century in the diamond market and used its presence to influence the international scenario. The best example of a resource control monopoly is De Beers. Thus, all this contributes to its domination in the market.
It is the only player in the mobile catering business through pantry cars in trains, static catering with established plazas, fast food units, and cell and base kitchens. There is no substitute for government-owned railways as it has no transportation and food facilities competition. It also dominates the railway industry from ticketing to catering facilities across 64,000 route km. The Indian Railways enjoys a government-controlled monopoly, being the sole seller and the world’s fourth-largest railway network. Visa’s clients give the cards, while it works like a mediator and profits by selling to merchants and financial institutions. Visa does not issue debit or credit cards but provides services in debit, credit, and prepaid cards to businesses and consumers. It is prevalent in over 200 countries among individuals, merchants, consumers, governments, and institutions. Merchants and retailers in the US paid $62.5 billion in swipe fees last year. As per the Fed Report 2021, 57% of US consumers prefer plastic, and 20% to cash. In today’s market, businesses thrive on Visa as consumers prefer credit cards over cash payments. Alibaba now has control over things like product prices and transactional details. It allows the company to control a large portion of online sales in China, which gives it the dominant position and makes it a monopoly. It owns various online platforms such as Taobao, Tmall, and other e-commerce sites. Example #4: AlibabaĪlibaba is a China-Based business that is one of the few retailers monopolizing global e-commerce. As such, Facebook is a clear example of a monopoly in the social media market. In 2014, Facebook acquired WhatsApp, a rising competitor in the social media segment, further solidifying its monopoly status. It is simply a monopoly due to its lack of direct competition, strong pricing power, and dominant user base worldwide. Example #3: Facebookįacebook dominates the social media market as the leader, with 2,958 million monthly users (as of January 2023).
#Pure monopoly economics windows
Moreover, Microsoft bundled its Internet Explorer web browser with Windows operating system to become the preferred desktop in every household.
With the cloud computing platform Microsoft Azure, Microsoft has maintained its presence and dominance in the market. Even today, Microsoft enjoys dominance in the market, recording $51.9 billion in revenue in Q4 2022. Microsoft has enjoyed a monopoly in the computer and technology industry since 1999. Therefore, Google undoubtedly is one of the giant monopolies in the world, with a notable presence in several other markets as well. It gives Google an advantage over smaller advertisers who do not have access to the same level of user data. Its business model heavily relies on collecting user data to personalize ads based on the user’s search history and location. The company’s primary source of revenue is advertising, and it currently controls a striking portion of the global advertising revenue, estimated to be around $224.47 billion in 2023. Thus, it is a superior player in the industry. Google has a significant market share in the internet industry compared to its competitors, such as Microsoft and Yahoo. Monopoly Examplesīelow are the different Monopoly Examples: Example #1: Google Government Monopoly: It is a monopoly where the government owns and controls a particular industry, sector, or business.Įxample: Water supply, electricity distribution, and mail services are prominent examples of government monopoly. Technological Monopoly: It is when a company or business has access or exclusive rights over a technology or manufacturing method that no one else can use.Įxample: Pharmaceutical companies with patents for certain medicines can fall under technological monopoly examples.Ĥ. Geographical Monopoly: It is when there are no other sellers available in that part of the world.Įxample: A local cable servicing company has a monopoly in a particular area in a city.ģ.
It also has many barriers to entry into the market.Įxample: The most familiar examples are the oil and gas, railway, and aviation industries.Ģ. Natural Monopoly: It is a situation where it is best if only one seller makes and sells a product.
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