What Is a Monopoly?• A form of market structure in which there is only one seller of a good or service.• Many Companies are monopolies if they dominate a market. Doesn’t need to be the only company in that market to be a monopoly.
LuxotticaLuxottica is very big Italian company which isn’t very well known. Itmanufactures Sunglasses for nearly all designer brands and also ownsthe world’s largest eye wear retailer. Nearly half a billion people own apair of Luxottica made sunglasses.Luxottica owns these brands:
LuxotticaLuxottica Facts: Luxottica owns more than 7000 retail stores•Made 65 million pairs of that sell sunglasses some examples are:sunglasses last year and withrevenue at £6.22.•Luxottica owns Ray Ban andOakley where making thesunglasses cost £25 and can sellfrom £120 up to £260.•Also manufacturers normalglasses and owns the brandsPersol and Vogue. By supplying to so many brands as almost the only supplier of sunglasses makes it a Monopoly. Clearly in this case a monopoly doesn’t benefit the consumer and this can be a disadvantage of a monopoly.
Iarnród ÉireannIarnród Éireann is thenational railway system operatorof Ireland and is owned by the IrishGovernment.Carries around 40million passengers ayear.•Operates all intercity lines(long routesfrom Dublin)•Commuter lines based in Dublin, whichhas four commuter routes: Northern,Western, South Western and SouthEastern•DART (Dublin Area Rapid Transit, Thenorth-south route along Dublins easterncoastal side is also host to DART. Talks to end this monopoly are on going.
Monsanto Company•Monsanto is an agricultural Monsanto’s seed monopoly hasbiotechnological company grown so powerful that theymeaning it makes seeds through control the genetics of nearly 90%genetic engineering. of five major commodity crops including corn, soybeans, cotton,•Monsantos line of seed products canola and sugar beets. Thereforeincludes agricultural seeds and meaning it can charge almost anyvegetable seeds, sold under the price to an extent which is to thebrand ‘Roundup’. extent in which consumers may just simply stop buying soybeans. Has been sued by competitors
Which were monopolies?Prices controlledthrough supply ofdiamonds.Producers in Russia, Canadaand Australia, distributed Convicted of being an illegaldiamonds outside of the De monopoly in the 1980Beers channel, ending themonopoly.