Types of Monopolies Notes for Chapter 23.1.

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Presentation transcript:

Types of Monopolies Notes for Chapter 23.1

Government Intervention Sherman Anti-trust Act made monopolies that intentionally hurt competition illegal. Clayton Anti-trust Act gave the federal government the power to break up illegal monopolies. The Federal Trade Commission has the authority to fine, regulate, and even break up businesses that act like monopolies.

Natural Monopolies Exist because seller has a unique product or idea. Examples?

Government Monopoly Run by or exist by the permission of the federal government. Examples?

Geographical Monopolies Exist due to the fact that no other competition is in area. Examples?

Technological Monopolies Exists due to patents and copyrights or because competition cannot replicate idea.

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