The Monopoly And Monopoly Industry

1565 Words Dec 8th, 2014 7 Pages
Has the economy ever thought about direct impact from monopoly and oligopoly industries? The structure of a monopoly based industry exemplifies one seller in the entire market. On the other hand, the concept of an oligopoly industry illustrates few sellers that have the potential of making a direct impact in one single industry idea. The economy has depended on the market share of a monopoly and an oligopoly trade. However, a monopoly industry differs from an oligopoly industry due to a monopoly competitor dominates a majority of the market share of many industries and an oligopoly competitor contains few sellers who dominate a market share based on one single industry idea. Google, for example, has a direct impact on the economy by their search engine. Google dominated the search engine over the companies from Yahoo, Bing, and other search engine industries. Not only that, Google affected the entire world with their superior technology that has been quite advanced more than any industry in the world. A current technology Google is working on is to help people with the condition of Parkinson’s disease. ABC news states, “The technology senses how a hand is shaking and makes instant adjustments to stay balanced.” (ABC News) In fact, Google has been the top industry that has dominated over several industries as well as concerned for people’s health problems. For example, Google spokesperson says, “We want to help people in their daily lives today and hopefully increase…
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