Bill Gates Rockefeller ENRON Examining Monopolies & The Impact of Historical Anti-Trust EDSE 420 – Mr. Peeler.

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Presentation transcript:

Bill Gates

Rockefeller

ENRON

Examining Monopolies & The Impact of Historical Anti-Trust EDSE 420 – Mr. Peeler

OBJECTIVES To Explore the role and benefits of competition in capitalists societies To Define monopolies To Compare & contrast monopolies & trusts

VOCABULARY

Capitalism Basic production Facilities and capital privately owned Economic activity is organized and coordinated through buyers and sellers Owners of land and capital are free to pursue their own self interests in seeking maximum gain

Monopoly Economic situation in which only a single seller or producer supplies a commodity Seller controls the price More freedom to adjust both price and production Results in a smaller output of goods Price Discrimination

Trusts Corporate monopolies organized to eliminate competition in an area of business and control the market for a product Legal arrangement in which the voting of stockholders assemble under the direction of a board of trustees Permits trustees to create a single firm out of competing firms

Anti-Trust Violaters Standard Oil AlCOa

What Have I learned? What are the benefits of competition? What are the economic benefits of competition as in a capitalist society? Why do capitalist economies require competition? Is capitalism a good or bad economic system? Why?

Online Research Find a company charged with monopolization of their industries In what year was the company prosecuted? What was the commodity or service? What was the verdict? What is your opinion of the verdict?