Natural Monopolies In The United States

During America's Progressive Era, large monopolies controlled the industries in which they did business, increasing the economy and harming the people. Monopolies were a big thing during the progressive era. A monopoly is when one person or business owns a product that they can only sell and produce. For example, a big industry like oil used to be owned by the Rockefellers, and they were the only ones who could sell oil in America. According to the Newsela article "Entrepreneurs: John D. Rockefeller," "Standard Oil continued to spread."

Rockefeller obtained a monopoly over the oil industry by purchasing competitor refineries and expanding companies for distributing and mass-producing his products all across the globe. Also, Andrew Carnegie made his fortune in his early 30’s by entering and dominating the steel business. He created the Carnegie Steel company, which

I believe the government should break up monopolies. John D. Rockefeller and his monopoly of Standard Oil is the perfect example for why the government should break up monopolies. Rockefeller and his partners created secret deals with railroads and used intimidation to get other smaller oil companies to sell out to them. Also Standard Oil was the monopoly to create trusts which created problems for other small companies.

Government

Connected Verizon standard Sharon customers had issue calling a certain number while driving through Ohio kept getting a message saying “All circuits are busy try again later”. Sharon actively listened and responded to the customers issue with empathy. She personal provides assurance of help to get the customer issue resolved. Discover Verizon standard Sharon asked some good open end question like the number that’s being dialed is it a landline or mobile number.

Also, lower messaging rates and Virgin Handset with

In emergencies most people will rely on their cell phones to call a family member, friend, or 9-1-1 for assistance. Phones have become a source of reliability for many to stay connected with the world around

The government is the biggest consumer in America. It spends the most money because it employs many people and therefore spends money in order to provide supplies and goods for those people to do their job. They spend a large sum on the military, in order to give them state of the art equipment to do their jobs to the best of their ability. However, the price of being the best of the best is not always an affordable one. The government spends several billion dollars every year on the military each year, and it is a huge chunk of the national budget.

During the Progressive Era there were multiple of changes occurring that people became overwhelmed. New resources in the oil market, industrialization, fights for equality. There were many factory jobs, however, no one to stand up for the workers. So of course people will turn to their government for help, the power house of the country. However, even the government was picky in what they helped with.

We support the statement ‘Monopolies have led to the success of many economies in the world, and therefore, they should be maintained by government if they want their economies to continue enjoying economic growth and prosperity’. This is because monopolies are large in size, they benefit from economies of scale and are able to generate a huge amount of profit- larger than other market structures. With this money, they can invest in research & development, improving their existing products and creating new ones. Moreover, monopolies have a great impact on a country’s economy. Two very large monopolies that positively impacted the United States economy is Standard oil and Steel Company.

Evidence of monopolies can be seen throughout the history of business in general. If the company controls too much of the market share, this will provoke fear on individuals because, they will think that these companies will be able to do whatever it pleases; from raising prices, using excess capital to branch into even more areas. These fears are based on the premises that the single seller of a unique good with no close substitutes and/or no competition, essentially has a monopoly firm. The market demand output is based on the demand of monopoly firms.

Today’s communication is all about cell phone technology. Every day new cell phone models are coming and carriers are luring the customers with attractive low pricing on these cell phone models with monthly plan to go along with it. This was not the case a year back in a very saturated wireless industry in US. Major players like AT&T and Verizon were ruling the market and companies like T-Mobile and Sprint were struggling to keep the customers. T-Mobile USA, Inc. made some bold moves to break away from saturated market and offered customers contract free plans along with payment plan on new handsets.

Each provider ensures that subscribers obtain the best service at a reasonable price thus there is healthy competition between them. Lastly, the industry most regarded as a natural monopoly is the Telephone Service Industry. As stated in the article, AT&T has been a major telephone service provider in the US for several years. It monopolized the market because there was connivance between the politicians and the company for their individual interests.

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

7.4 Knowledge of local codes Each city or area in the United Kingdom has its own national code for landlines. London is unusual in having two separate codes 0207 and 0208 depending upon whether the phone is in inner or outer London. On the other hand, the increasing use of mobiles means that people do not know the area the call has come from. This is important for many small firms where in many cases they receive almost as many incoming sales calls which are not necessarily going to be as helpful as calls from potential