Competition. Typology of monopolies (most important)

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Competition. Typology of monopolies (most important)

Lecture notes, cheat sheets

Directory / Lecture notes, cheat sheets

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7. Typology of monopolies

Like competition, monopolies can be classified for various reasons.

On place in commercial transactions monopolies are divided into two types:

Monopoly - an association of enterprises that sells certain goods to many buyers (i.e., there is a single seller and many buyers).

Monopsony - a business association that buys any products from all sellers (i.e., there is a single buyer and many sellers).

Depending on the on the degree of market coverage the following types of monopolistic organizations are distinguished:

Pure monopolies (Monopsony) - These are organizations operating on the scale of one industry. Pure monopsony, in the absence of any competitors, completely controls the purchase of the products of many producers at the price set by it.

Absolute monopoly (monopsony) - is formed on the scale of the national economy as a whole. It is in the hands of the state or some of its economic bodies.

Depending on the nature and causes of occurrence, the following types of monopolistic associations are distinguished:

Natural monopoly - occurs when certain market entities have at their disposal rare and non-reproducible elements of production. Sometimes this also includes industries and industries in which it is unacceptable to develop competition due to the technological features of production.

technological - deliberately maintained monopolies.

Artificial monopolies - associations created in order to obtain monopolistic benefits and based on the concentration of production and sales market of any product in one hand.

Artificial monopolies had multiple forms - random, stable and universal.

Random form arises unexpectedly when there is an exceptional opportunity to produce and sell a commodity under the best conditions of production and with a temporary favorable balance of supply and demand.

sustainable the monopoly arises from the largest enterprises that captured the markets at the end of the twentieth century. The appearance of excess capital in one industry and incapable of generating high profits led to the formation of stable monopolies in various industries (combined trusts, concerns, conglomerates).

Universal the form of monopolies appeared in the second half of the XNUMXth century, when, in most markets, associations of entrepreneurs, jointly or with the help of the state, become either the main buyers or the main sellers.

In the economic literature, sometimes emphasize legal monopolies that are formed legally.

Author: Ilyina V.N.

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