The software industry has traits in common with monopoly markets.

Question

Quizplus · Accepted Answer

The software industry can have certain characteristics of a monopoly market, such as high barriers to entry for new competitors, control over pricing by dominant companies, and network effects that make it difficult for consumers to switch to alternative products. However, it is important to note that the software industry is not a pure monopoly, as there are usually multiple companies offering similar products and services.

The Software Industry Has Traits in Common with Monopoly Markets