BUSINESS MONOPOLIES. YAY OR NAY.
Yay.
![Picture](/uploads/1/7/9/0/17902763/9055140.jpg?129)
Dear CLKBJ,
My name is Mike Hood, and I am going to tell you my opinion of the monopolies during the industrial revolution. If monopolies were not around competitors would reappear and offer people the same or similar products to people causing business to lose money. This is why we have prices set to a certain low/high price. People are happy with prices and won't buy from other companies. I believe that this is a good way of avoiding conflict. Business won't lose profit to other companies, so their won't be any argument.
One company running an entire industry is a good thing in my opinion. A company can function better knowing they don't have competition. Oil industries may have a set price and if another oil industry have a lower price, people are likely to get the lower oil price. That would cause the more expensive place to lose profit and have to lower prices for better quality oil. Other examples of this type of thing would be food stores, same thing could have happen with prices of food. I believe monopolies are a good way to have less stress on industries and companies in general. I would feel better knowing I will not go out of business because of another company.
Cited: "Industrial Revolution." Encyclopedia Britannica Online. Encyclopedia Britannica, n.d. Web. 14 Mar. 2013.
Cited: "Why Did Monopolies Develop during the Industrial Revolution?" WikiAnswers. Answers, n.d. Web. 13 Mar. 2013.
Cited: "Why Were Monopolies a Problem during the Industrial Revolution?" Yahoo! Answers. Yahoo!, n.d. Web. 13 Mar. 2013.
My name is Mike Hood, and I am going to tell you my opinion of the monopolies during the industrial revolution. If monopolies were not around competitors would reappear and offer people the same or similar products to people causing business to lose money. This is why we have prices set to a certain low/high price. People are happy with prices and won't buy from other companies. I believe that this is a good way of avoiding conflict. Business won't lose profit to other companies, so their won't be any argument.
One company running an entire industry is a good thing in my opinion. A company can function better knowing they don't have competition. Oil industries may have a set price and if another oil industry have a lower price, people are likely to get the lower oil price. That would cause the more expensive place to lose profit and have to lower prices for better quality oil. Other examples of this type of thing would be food stores, same thing could have happen with prices of food. I believe monopolies are a good way to have less stress on industries and companies in general. I would feel better knowing I will not go out of business because of another company.
Cited: "Industrial Revolution." Encyclopedia Britannica Online. Encyclopedia Britannica, n.d. Web. 14 Mar. 2013.
Cited: "Why Did Monopolies Develop during the Industrial Revolution?" WikiAnswers. Answers, n.d. Web. 13 Mar. 2013.
Cited: "Why Were Monopolies a Problem during the Industrial Revolution?" Yahoo! Answers. Yahoo!, n.d. Web. 13 Mar. 2013.
Nay.
![Picture](/uploads/1/7/9/0/17902763/3244131.jpg?175)
Dear CLKBJ,
I am Peter Jacks, in addition to my opinion of monopolies I have a lot of reasoning behind my beliefs, for example. Railroad cars that ship oil from place to place do not get payed to ship the oil, so the people who buy the oil have to pay a fee to the railroad. Three major monopolies during the Industrial Revolution are, railroads, steel, and banking. These companies have contracts for these jobs by the colonial administrators. Many of these jobs still function because of the land and contracts they have.
Lack of competition can lead to higher prices and inferior products. If people didn't have choices of what they buy, they would have limited amounts of recourses. One industry has a product and they are the only one, what happens if they run out of it? What happens if you need a product of some sort and they run out, you no longer are able to get the required product anymore. In my opinion the people should have choices. If the industries have a small feud it's okay, you will have that in the world of business. People need to understand that not everyone has the ability to get the needs they desire so having more options on prices and stores/railroads would expand to a much more options and varieties.
Cited: "A History Of U.S. Monopolies." A History Of U.S. Monopolies. N.p., n.d. Web. 13 Mar. 2013.
Cited: "Industrial Revolution." Encyclopedia Britannica Online. Encyclopedia Britannica, n.d. Web. 14 Mar. 2013.
Cited: "INDUSTRIAL REVOLUTION." INDUSTRIAL REVOLUTION. N.p., n.d. Web. 14 Mar. 2013.
I am Peter Jacks, in addition to my opinion of monopolies I have a lot of reasoning behind my beliefs, for example. Railroad cars that ship oil from place to place do not get payed to ship the oil, so the people who buy the oil have to pay a fee to the railroad. Three major monopolies during the Industrial Revolution are, railroads, steel, and banking. These companies have contracts for these jobs by the colonial administrators. Many of these jobs still function because of the land and contracts they have.
Lack of competition can lead to higher prices and inferior products. If people didn't have choices of what they buy, they would have limited amounts of recourses. One industry has a product and they are the only one, what happens if they run out of it? What happens if you need a product of some sort and they run out, you no longer are able to get the required product anymore. In my opinion the people should have choices. If the industries have a small feud it's okay, you will have that in the world of business. People need to understand that not everyone has the ability to get the needs they desire so having more options on prices and stores/railroads would expand to a much more options and varieties.
Cited: "A History Of U.S. Monopolies." A History Of U.S. Monopolies. N.p., n.d. Web. 13 Mar. 2013.
Cited: "Industrial Revolution." Encyclopedia Britannica Online. Encyclopedia Britannica, n.d. Web. 14 Mar. 2013.
Cited: "INDUSTRIAL REVOLUTION." INDUSTRIAL REVOLUTION. N.p., n.d. Web. 14 Mar. 2013.