![]() ![]() The search results obtained from Google are precise and of high quality. The company serves billions of internet users worldwide-and this has attracted many advertisers to seek their services. Google is the wealthiest internet company globally, with over one trillion dollars worth of investment. There’s constant invention needed to meet the customers’ needs which require a lot of financial input, and this is expensive for new investors. The cost of cabling and wiring required in the industry is high and often keeps off new investors. ![]() Internet providersīroadband providers enjoy a monopoly, with over 40% of internet users depending on a single internet provider. The already established companies in the industry offer low rates on their products, causing the upcoming players to lose on the customer base. The high cost of setting up the infrastructure required for the telecommunication industry to function and the barriers from the government are among the reasons the industry has enjoyed a monopoly over the years. The telecommunication industry is among many other industries that lack competition globally. In some countries, the company enjoys a monopoly from the popularity of its products and the solid customer base it has established over the years. Most of the soft drinks consumed globally are from the company.Ĭompanies like Pepsi offer soft drinks but are not at par with Coca-Cola Company. The Coca-Cola Company has the highest market share in the beverage industry. Some of the areas governments tend to put restrictions to prevent competition include advertisements, health and privacy, and registration fee. To prevent competition, the government puts barriers such as legal and government restrictions. The government appoints workers in the companies and collects revenue. Water and sanitation companies are mostly owned by the government. Here are ten examples of pure monopoly in real life: 1. There are many types of monopolies such as Pure monopolies are scarce.Ī business enjoys a monopoly when there are barriers in place preventing competitors from getting into the market. It encounters no barriers when entering the market and enjoys economies of scale.Ī market where one company is the sole supplier of a product with no competition or substitutes is called a pure monopoly. In any industry or market, a company that holds the highest market share of a product is a monopoly.Ī monopoly experiences little or no competition and enjoys the privilege of setting its prices and terms. Lenovo, Samsung, and Apple companies enjoy a monopoly in their fields. Samsung led the global mobile phones market while Apple emerged top in the electronics market. The market leader of the global PC market in 2020 was Lenovo, with a market share of 24.9%. ![]()
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