You are here

Why are monopolies bad for consumers ?

Some of the points explaining why monopolies are bad for consumers are as follows. So let us check it out information on monopoly and its effects. 

  1. Cosumers have no choice or limited choice during monopolies, monoply also controls the product as well as services which are not only supplied at highest prices but the quality is also affected sometimes during monopoly.
  2. Monopolies also lose any incentive to innovate, as the company already getting benefits, they may not innovate or introduced advanced version of products or services in the market.
  3. They can set any price of the product or services they want, as a result they may raise the cost to consumers and create inflation.
  4. They can also supply inferior products during monopoly.
  5. You might also like some advantages & disadvantages of monopoly to know more about monoly and its effects.

Tags:

Explore more Information

WHAT OTHERS ARE READING

Full Form of DNA

Deoxyribonucleic Acid (DNA)  is a molecule which helps to carry most of the genetic instructions or information in functioning, development and reproduction of almost all kinds of living organisms which is present in nearly all living organisms. DNA can be said as a carrier of genetic information. (Other full form related to DNA such as RNA and other similar terms are also available.)

Process Validation Stages process qualification two

In the Process Validation during second stage that is process qualification some more points are taken into account which are  discussed below. So let us see some points one by one:

During process performance qualification the actual facilities, utilities and equipment are checked whether they are qualified or not.

The personnel operating various equipment are trained or not is checked.

The  procedure which are performed are as per standard procedure is verified and checked.