Can a person be a monopoly?
If a company, person, or state has a monopoly on something such as an industry, they have complete control over it, so that it is impossible for others to become involved in it.
A monopoly is a company which is the only one providing a particular product or service.
What companies are monopolies?
To date, the most famous United States monopolies, known largely for their historical significance, are Andrew Carnegie’s Steel Company (now U.S. Steel), John D. Rockefeller’s Standard Oil Company, and the American Tobacco Company.
What is an example of a monopoly?
A monopoly is a firm who is the sole seller of its product, and where there are no close substitutes. An unregulated monopoly has market power and can influence prices. Examples: Microsoft and Windows, DeBeers and diamonds, your local natural gas company.
Is Facebook a monopoly Reddit?
CMV: Facebook is effectively a monopoly in the social media market and should be broken up or highly regulated. Facebook owns both Facebook (duhr) as well as Instagram. … Facebook literally reaches Billions of users. By comparison, Reddit has about 330 million, same for Twitter.
Is YouTube a monopoly Reddit?
Youtube is not a monopoly because for all of the things they are selling they face serious competition. Sure they are the only place anybody goes for free on demand video content, but it’s free.