- 7 Marks
BMIS – Nov 2024 – L1 – Q2a – Types of Organisations
Explain three reasons why monopoly control over a market might be undesirable.
Question
A monopoly is a market structure in which a single seller or producer assumes a dominant position in an industry or a sector. In most jurisdictions, legislations are in place to restrict monopolies and ensure that one business cannot control the market.
Required:
i) Explain THREE reasons monopoly control over a market might be undesirable
Find Related Questions by Tags, levels, etc.
- Tags: Market Control, Monopoly, Uncompetitive Markets
- Level: Level 1
- Topic: Competitive forces and markets
- Series: Nov 2024
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