Question

What is a monopoly and are all monopolies bad for the economy?

Answer 1

No because there are monopolies that make the economic firm more efficient for the economy and some tat make the firm less efficient .And a monopoly is the control of supply or trade in a commodity or service.

Answer 2

If you are talking about a what i monopoly is then you could say it is a Company or Industry that dominates its competition. This means that the monopoly makes its oponents go out of buisness. This is a bad thing for the econemy because the monopoly can start controling the government and it could become corrupt. Hope this helps your question.