Question

1. Do you agree that the companies identified are monopolies? Explain why you agree or disagree. If you don't think they are monopolies, what other companies compete with them? Ans. I disagree that the companies mentioned in the videos like amazon, Google, Netflix, etc are not monopolies. Because all these companies have competitors in a large number. We can say that these companies are one of the leading companies from their field but not a monopoly. Like

Answer 1

Ans. A monopoly is a market form where there is only one seller and many buyers. Hence such companies like amazon, netflix, google are not monopolies as they have many competitors with them in the market for example:

1. Google - firefox, internet explorer, etc
2. Netflix - amazon prime, etc
3. Amazon - flipkart, myntra, shopclues etc.

This shows that there is no single seller of any company and hence they might fall into the category of monopolistic firms where there are many sellers selling almost similar goods with minute variations. But they surely do not fall under the category of Monopoly.