Microeconomics – ECON2010

My paper is about Monopoly and how it impacts consumers, businesses, and the economy.  I chose this topic because I wanted to show the value of competition and the necessary roles of small businesses play in our communities.  While many people associate the term “monopoly” with a board game, we can take away valuable lessons from the concept behind it.  When one person (or company) dominates the board, often times no one can make a comeback, because they are stuck in the cycle of paying whatever price the “rich player” is entitled to, according to the rules.  Although some monopolies can be dangerous for consumers and the economy; they often create the opportunity for competition and innovation.

Santa Cruz – ePortfolio Assignment – ECON2010