[Quoted from Wikipedia – Monopoly]
A monopoly (from Greek monos μόνος (alone or single) + polein πωλεῖν (to sell)) exists when a specific person or enterprise is the only supplier of a particular commodity (this contrasts with a monopsony which relates to a single entity's control of a market to purchase a good or service, and with oligopoly which consists of a few entities dominating an industry).[2]
Monopolies are thus characterized by a lack of economic competition to produce the good or service and a lack of viable substitute goods.[3]
The verb "monopolize" refers to the process by which a company gains the ability to raise prices or exclude competitors. In economics, a monopoly is a single seller. In law, a monopoly is a business entity that has significant market power, that is, the power to charge high prices.[4]
Although monopolies may be big businesses, size is not a characteristic of a monopoly.
A small business may still have the power to raise prices in a small industry (or market).[5]
A monopoly is distinguished from a monopsony, in which there is only one buyer of a product or service; a monopoly may also have monopsony control of a sector of a market.
A monopoly is distinguished from a monopsony, in which there is only one buyer of a product or service; a monopoly may also have monopsony control of a sector of a market.
Likewise, a monopoly should be distinguished from a cartel (a form of oligopoly), in which several providers act together to coordinate services, prices or sale of goods.
Monopolies, monopsonies and oligopolies are all situations such that one or a few of the entities have market power and therefore interact with their customers (monopoly), suppliers (monopsony) and the other companies (oligopoly) in ways that leave market interactions distorted.
When not legally obliged to do otherwise, monopolies typically maximize their profit by producing fewer goods and selling them at higher prices than would be the case for perfect competition.
Monopolies can be established by a government, form naturally, or form by integration.
In many jurisdictions, competition laws restrict monopolies.
Holding a dominant position or a monopoly of a market is often not illegal in itself, however certain categories of behavior can be considered abusive and therefore incur legal sanctions when a business is dominant.
A government-granted monopoly or legal monopoly, by contrast, is sanctioned by the state, often to provide an incentive to invest in a risky venture or enrich a domestic interest group.
The government may also reserve the venture for itself, thus forming a government monopoly.
What I said all he acted them out, so I am telling the Truth all along!
AA:Core's getting funnier and funnier lol.
BB: Greedier n greedier la!
all about $$$$$$$$$$$$
hehe
things are really getting very interesting!
CC: Omg againn... they are so free n then think of how to make money... haha i guess they will get a headache soon since the approval will be a lottt... haha
DD: Think they will do this to for entering Maha Twin Lotus Pond if they have such authority =))
---
PKV: In tantrayana, really no need to waste time in Show Hand.
What I said all he acted them out, so I am telling the Truth all along!
The Latest on incense paper, heard that Core now gives control to Daden for all incense printing and approval or authorization must be obtained before they print, else they are UNOFFICIAL!
Hahaha! All about $$!
Hahaha! All about $$!
AA:Core's getting funnier and funnier lol.
BB: Greedier n greedier la!
all about $$$$$$$$$$$$
hehe
things are really getting very interesting!
CC: Omg againn... they are so free n then think of how to make money... haha i guess they will get a headache soon since the approval will be a lottt... haha
DD: Think they will do this to for entering Maha Twin Lotus Pond if they have such authority =))
PKV: Well! They did asked SZ some time back [To give guarantees to those BIG Sponsors that all of them will receive a certificate to make sure they go to Pure Land] !
Hahaha!
SZ's reply was [NO!] .
The recent Cash Call also they did similar promise or guarantee to Big $$Sponsors for blessing conferred by SZ.
Selling SZ all the time!!! :)
Cheers all.
Om Guru Lian Sheng Siddhi Hom
Lama Lotuschef
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