2. 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.
3. Luxottica
Luxottica is very big Italian company which isn’t very well known. It
manufactures Sunglasses for nearly all designer brands and also owns
the world’s largest eye wear retailer. Nearly half a billion people own a
pair of Luxottica made sunglasses.
Luxottica owns these brands:
4. Luxottica
Luxottica Facts: Luxottica owns more than 7000 retail stores
•Made 65 million pairs of that sell sunglasses some examples are:
sunglasses last year and with
revenue at £6.22.
•Luxottica owns Ray Ban and
Oakley where making the
sunglasses cost £25 and can sell
from £120 up to £260.
•Also manufacturers normal
glasses and owns the brands
Persol 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.
5. Iarnród Éireann
Iarnród Éireann is the
national railway system operator
of Ireland and is owned by the Irish
Government.
Carries around 40million passengers a
year.
•Operates all intercity lines(long routes
from Dublin)
•Commuter lines based in Dublin, which
has four commuter routes: Northern,
Western, South Western and South
Eastern
•DART (Dublin Area Rapid Transit, The
north-south route along Dublin's eastern
coastal side is also host to DART. Talks to end this monopoly are on
going.
6. Monsanto Company
•Monsanto is an agricultural Monsanto’s seed monopoly has
biotechnological company grown so powerful that they
meaning it makes seeds through control the genetics of nearly 90%
genetic engineering. of five major commodity crops
including corn, soybeans, cotton,
•Monsanto's line of seed products canola and sugar beets. Therefore
includes agricultural seeds and meaning it can charge almost any
vegetable seeds, sold under the price to an extent which is to the
brand ‘Roundup’. extent in which consumers may just
simply stop buying soybeans.
Has been sued
by
competitors
8. Which were monopolies?
Prices controlled
through supply of
diamonds.
Producers in Russia, Canada
and Australia, distributed Convicted of being an illegal
diamonds outside of the De monopoly in the 1980
Beers channel, ending the
monopoly.