Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please reply to post below: A monopoly that came to mind for me was Google. A monopoly is a business that solely carries and sells

Please reply to post below:

A "monopoly" that came to mind for me was Google. A monopoly is a business that solely carries and sells product that isn't available from any other company. Think about when you need to get to a website or search a quick question. Google's search engine is what everyone commonly uses now on the internet. It could be believed that the things you search are recorded and monitored and that information is sold to companies. Have you ever searched on a webpage for a ring or baby clothes and then went to another website and saw an ad for the same exact thing? Google takes this information and sells it to those businesses you just shopped at in order to determine what products people want to buy the most. Since Google is the biggest search engine they are using your search history and ranking the top searched results and websites in order. (That is a process that is very hard to replicate since google has now become the "norm" for a major search engine company. Although the idea isn't just exclusive to Google, the fact that they have so much space on the cloud for search engine data means that there is less space that can be used by other search engine businesses.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essays In Economic Sociology

Authors: Max Weber, Richard Swedberg

1st Edition

0691218161, 9780691218168

More Books

Students also viewed these Economics questions

Question

What is disintermediation? What advantages does it present?

Answered: 1 week ago