In this market, the seller neither faces competition nor has any close substitutes of the products. Example of products in monopoly market is electricity, water, cable television and local telephone services. Factors like government license, ownership of resources, copyright and patent and high starting cost make the entity a single seller of goods which cause barriers to entry into the monopoly market. Characteristics related to the monopoly market make the single seller the market controller as well as the price maker (Mankiw, 2008). Islam has its own unique economic system.
Fourth, Considering the worldwide economic system, Bitcoin is the most stable system if it is well-accepted in the future. On one hand, Bitcoin is not controlled by any country, organisation or publisher. Instead, it is generated by a non-concentered P2P(peer-to-peer) system. So no one can create or print a new “Bitcoin”. The fixed total amount of Bitcoin also made Bitcoin have no chance to encounter inflation— the cause of the terrifying 2008 financial crisis.
All the units of a product are similar and there are no alternative to that commodity in the firm. The firm are controlling over the market by offering a product that is not same with other. The firm may use specialized information like trademark and copyright in order to establish legal authority over the production of some goods and services. Normally, monopoly situation in a market can continue only when other company does not enter into the industry. In a monopoly market, they have no others competitor because barriers of enter are very strong.
ABSTRACT Monopoly can be understood in very simple term meaning a market which has only one seller and there are no close substitutes for that seller’s product or service. Sometimes the term “monopoly” is technically referred to the market itself but usually it is referred to the seller who has created monopoly in the market. The single seller is otherwise called as “monopolist”. Monopoly to be really effective in the market should practically have no substitutes for the product or service at all and also there should be no threat of the entry of a competitor into the market. This gives the monopolist a perfect control over the pricing of the product or service.
One of the most important forces that drive globalization is technological development. As technology advanced it gave the means to break the barrier of time and space which in its turn helped the national markets to integrate without difficulties as they could now collect worldwide information. Furthermore communication has become easier as well as faster through internet as it allows messages to be sent and be received at the same time with no delays. Transportation improved and lead to faster traveling as it reduced the time but it increased the efficiency of transferring. “Advocates and critics of globalization basically agree on the big forces behind it: a great freeing up of trade and capital flows; deregulation; the shrinking cost of communication and transportation; an IT revolution that makes it possible for companies to digitize the boundaries between design, manufacturing and marketing and to locate these functions in different places; and the availability of large numbers of workers and engineers in low-wage countries.” (Suzanne Berger 2005
They were named as melas and fairs, primarily conducted for two aims. One for trading and the other one for entertaining. Modern retailing is no way different from them and it involves all activities related to selling of goods and services in small quantities to end-consumers and they make the consumers’ shopping experience as pleasurable and memorable one. India is one of the world’s most attractive futures markets and it has become the fastest growing economy in the world over the next two decades. By bringing a large number of manufacturers and consumers together at a single point, retailers make it possible to sell the products and to do their business.
0.0 Introduction Economic monopoly caused by market access restrictions, mainly for the exclusive access to market opportunities, once the economic monopoly, the opportunity to enter this the market by new investment is difficulty. The principal of economic monopolies are not share the opportunity to enter the market with others, but also do not share new market opportunities with other undertakings. 1.0 Monopoly in the context of Economics Monopoly is a market structure where only one firm only exists in it to producing a specific goods and services to consumer. They are referred to as the monopolist. They control the whole market share, as they do not have any competition and has ability to control the production and pricing.
There is a very popular saying which is that it doesn 't make a difference how far or separated we may be geographically, economically or culturally, we are all held firmly together as members of the human race in a widely inclusive web. Globalization is seen as the principle 21st century growth mode, it’s a social occurrence and one of the most talked about topics. Despite the fact that the term globalization is regularly utilized it is tough to define. In this paper the writer will take on the definition by Curry. Curry (2000 cited in Awuah and Amal 2011) suggest globalization alludes to the worldwide marvel of technical, financial, political, and social trades among countries, organizations, and private people.
Pakistan ranked third after China and India in the production of yarn (global) during the period of these same six years. Taiwan, India and the republic of Korea showed annual increase of 18.1%, 27.7% and 5.4% respectively in exports during the years of 1993 to 1998 whereas the Pakistan showed the growth ( negative ) of 4.8%. Till the year 1997, Pakistan was the world’s largest yarn exporter followed by the India which one of the largest development. However India has taken the first position in 1998, leaving Pakistan behind at number 2 in the case of production of cotton cloth, large number of countries in Asia have been introducing themselves and emerging in the global market to compete with Pakistan. These countries include India, Taiwan, Thailand, Bangladesh, Indonesia, Turkey, Iran and Sri Lanka.
Urbanised cities have sky-high incomes and very stable economies, thus resulting in more sturdy institutional and educational platforms. They are also “better able to withstand the volatility of the global economy.” In fact, they are excellent magnets for the investment in the development of new products in the various fields such as medical and motor, and they are very well equipped in harnessing in both human and technical resources. Thus creates unprecedented gains in productivity and competitiveness, which leads to leaps and bounds in progress. In addition, “In both developed and developing countries, the urban cities generate a disproportionate share of Gross Domestic Product (GDP) and provide huge opportunities for investment and employment. Urban-based economic activities account for up to 55 per cent of Gross National Product (GNP) in low-income countries, 73 percent in middle-income countries and 85 percent in high-income countries.” In addition, the highly educated and thus very skilful population of urbanised cities leads to more efficiently produced goods and services.