- 9 Marks
BMIS-NOV2024-LV1-Q2a-Monopoly Control and Government Action
disadvantages of monopolies and government actions against them.
Question
a) 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.
ii) Suggest THREE ways in which the government might act against monopolies.
Find Related Questions by Tags, levels, etc.
- Tags: Government intervention, Monopoly, PEST Analysis
- Level: Level 1
- Topic: Monopoly Control and Government Action
- Series: Nov 2024
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