00:01
Okay, so first of all we will understand the meaning of monopoly followed by that we will understand how government tackles with the monopoly situation in an economy.
00:14
Okay, so first of all i'll we will start with our example, okay and the you know very popular example for this will be windows developed by microsoft.
00:43
Okay, microsoft.
00:44
Okay, microsoft.
00:45
Now everyone will be having a laptop or personal computer at their homes.
00:51
So when you switch on the computer, okay, you, first of all, your computer runs on operating system.
00:59
And the name of operating system is windows, which is developed by microsoft.
01:04
And it holds the largest market share in the economy.
01:09
Or we can say in the operating system product category.
01:13
Okay, it holds let's about we will assume okay i'm not giving a approximate exact figure i suppose that it will be around 87 % it is 7 % market share is of microsoft okay so this is the monopoly power because the windows runs on every bc apart from computers manufactured by apple company okay now what what happens, the monopoly power could not be created in an economy.
01:52
So the government has enacted sherman and platon acts to prevent monopoly in an economy.
02:30
Now what happens when you can understand very well if there will be one single producer or one single firm providing a service, providing a product also...