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Cecil Rhodes Essay Topics & Paper Examples

De Beers Monopoly

A monopoly is a market structure in which the number of sellers is so small that each seller is able to influence the total supply and the piece of the good or service. A monopoly can be both legal and illegal depending on the market structure. Monopolies and free enterprise companies will abuse consumers by monopolizing a specific sector of business. The question of a monopoly is if they don’t exist is it in all fairness in the industry? Who controls the monopoly? To stop a monopoly is to limit free enterprise of an individual. Monopolies will corner a market and can abuse consumers by pricing. The De Beers Diamond Company is an example of a monopoly. De Beers is…