Econs poll

Do you think Monopolies can be managed?

• Yes

• No

What is a Monopoly?

• A board game

• When only one company controls an entire industry—or even a sizeable percentage of that industry

• When one company holds the highest percentage of market shares

• A company that controls 10% of that industry

Which of the following are examples of a Monopoly?

• Meta

• Boeing

• Singpost

• Google

Which of the following is NOT an advantage of Monopolies?

• Price Stability

• R&D Budget

• Different consumer, different price.

• Ability to scale up

Which of the following IS a disadvantage of Monopolies?

• Increased prices

• Inferior products

• Price discrimination

Why is there a need to regulate Monopolies?

• So that organisations can maximise profits

• To prevent organisations from pricing their goods too high

• To promote good quality service offered by organisations

• So that organisations have more funds for R&D

What is the benefit of adopting Marginal Cost Pricing?

• No deadweight loss

• Covers fixed costs

• Governments do not need to pump in large sums of monies to the organisation

There are often times grey areas that makes it challenging for governments to regulate monopolies.

• True

• False

In 2017, what was Google fined for?

• Promoting its own shopping comparison service at the top of search results

• Promoting its Google Store App Services

• Forcing smartphone makers to pre-install its apps exclusively

What organisation is responsible for managing competition law in Singapore?

• Competition & Consumer Rights Singapore (CCRS)

• Monetary Authority Singapore (MAS)

• Competition & Consumer Commission Singapore (CCCS)

• Competition Act Singapore (CAS)