Large technology firms dominate the IT world and internet commerce. How can this type of monopoly or, near-monopoly power, be broken?
A) The solution is giving more subsidies to private firms.
B) The solution is being critical of individuals who control large technology firms.
C) The solution is tough and effective competition policy that breaks up monopolies that emerge in this way.
D) The solution is implementing more trade unions.
E) The solution is giving preferential treatment to wealthy individuals.

Question

Quizplus · Accepted Answer

Tough and effective competition policy that breaks up monopolies that emerge in this way is the best solution. This will promote healthy competition in the industry, leading to advancements in technology, and fair market prices for consumers. It will prevent a single company from dominating the market, which can be detrimental to the industry and the economy as a whole. Subsidies, being critical of individuals, implementing more trade unions, and giving preferential treatment to wealthy individuals may not address the root cause of the problem or may cause other negative consequences.

Large Technology Firms Dominate the IT World and Internet Commerce