Express the Power of Monopoly in Business Economics Assignment Impressively

Students need to prepare an assignment for their business economic subject. Many students understand the calculations and strategies of economics, but some struggle in it.

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The monopoly is an important part of managing the economics of business from a social perspective. Monopoly is the best way to fix the prices of a product. It is important to save society from exploitation.

Only the state interference can do save the society, and for that, the state takes some measures.
You can mention these measures in your assignment while writing about monopoly. Include some important measures that can be taken by the state.

Measure to Control Monopoly Power

These are the 6 measures that can control monopoly power in business economics that will be helpful in assignment writing.
 
Anti-Trust Regulation: One of the measures, which are adopted by the monopoly, is to form a trust. These trusts are, of course, voluntary, but all the evils of monopoly more or less creep into it. As a result, the state is forced to take legislative measures.

Prices Under Control: Monopoly always tries to set the price as high as possible, which they collect from the customers, so as to earn the minimum profit. With the fixed profits and prices, the monopoly can be controlled by the state, which ensures that the industry does not earn an excessive profit. But it is also not very effective and cannot be put into actual practice.

Coordinated Consumer’s Associations: The monopoly fixes high prices because it knows it fully well that the consumer is not well-organized and will take time to organize himself. One effective method of checking and controlling the monopoly is that the government should help in the formation of consumer associations.

Productive Publicity: Monopoly works with some serious irregularities, which usually is unnoticeable by the people. It is, therefore, beneficial that proper publicity should be given to these defects. There should be supplies for public guidance of monopoly houses.

Gov. of Nation: The last effect of the government is that it should nationalize the monopoly existing business, and the one that society is not willing to stand for. But again, the difficulty with this system is that the government has limited economic resources and can nationalize only a few industries.

With Fair Competitions: Monopoly can continue only when there is no real competition. This competition must be effective enough to check the conditions of monopoly. But, the problem is that the monopoly will never allow any competition because it will mean a sharing in profits and check on arbitrary fixation, sweet in both hands.

Hope these measures of controlling the monopoly power will be helpful to explain the monopoly in-depth in your business economics assignment. You can also add some social costs of monopoly power to it to show your knowledge more clearly.
                            
Summary
The article includes the various measures useful to control the monopoly power that can be helpful for writing in your business economics assignment.

Author’s Bio
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