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Essay / Research Paper Abstract
An 8 page paper that defines and discusses what a monopoly is as contrasted to a big business. The basics of the Sherman Act and subsequent amendments are reported. The industry of focus in the auto industry with its many regulations. The writer also comments on the current bailout packages. Bibliography lists 12 sources.
Page Count:
8 pages (~225 words per page)
File: MM12_PGbbmau9.rtf
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Unformatted sample text from the term paper:
defined monopoly as: "exclusive control of a particular market that is marked by the power to control prices and exclude competition and that esp. is developed willfully rather than as
the result of superior products or skill." The seller would have total control over the market, which gives that seller the power to increase prices of even to limit the
supply of that good or service (Smith, 2007; The Columbia Encyclopedia, 2004). In economics, that is a manipulation of the supply and demand proposition. A big business by contrast does
not hold the power over a single good or service, instead, this is a large corporation with thousands of employees and tens or hundreds of millions in revenue each year.
Big businesses compete in the market with each other. An example would be what is referred to as "the Big Three in Detroit", which refers to GM, Ford
and Chrysler automakers. Each of these multinational corporations has numerous brands, which is another component in big business. The different brands within the mega-corporation actually compete with each other. Think
about General Motors Corp. that offered Pontiac, Buick, Oldsmobile, Chevrolet, Pontiac and Cadillac brands. And, did you know that GM owns Frigidaire and Delco Appliances, and Fisher Body among other
brands. This is called a combination company that is organized in a horizontal fashion because competing companies are governed by one central management schema (Smith, 2007). The central management oversees
marketing, advertising, and selling (Smith, 2007). Ford Motor, by contrast is a vertical combination company, primarily because it also owns companies that provide raw materials to the system. Besides its
cars and trucks, Ford has its own transportation system, iron ore mines, ships, foundries, timber plants, paper mills, glass plants, a railroad, tire plants and so on (Smith, 2007). There
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