A Game Of Market Systems
Economic models used by economists to observe trends caused by monopolies and their effects on an economy.
Caters to specific subgroups within an industry, for example the music industry producing and supporting a variety of genres with only a few choice companies publishing the majority of these albums. Advantageous because it supports more niche interests and does not serve to "blanket" provide for a population, disadvantageous because there is still a monopoly present; but instead of a monopoly on the industry at large it is a monopoly on a specific subset of the industry.
Monopolies are highly powerful and controlling entities over an industry, and an example of this-while not wholly economic- would be the iconography of the Iron Throne in the Game of Thrones franchise; where whichever House is seated upon the Throne rules the Seven Kingdoms and possesses near total power.
A form of monopoly wherein a choice few competing firms control an entire industry, either evenly or unevenly. Oligopolies are less of a hindrance than a monopoly as there is still competition between firms, but the firms at odds with the other are so powerful the barrier to entry is too high for another smaller competitor to take root in the industry without significant financial backing. An example of this is displayed in the power struggle between Houses Stark and Lannister in the Game of Thrones franchise.
- Natural- Costs of production lower with a specific producer. For instance, a coal mine that sells its coal directly from the source is cheaper to go to than a middleman that sells coal from somewhere else.
- Geographic- When there are no other producers in a region. This can be inevitable based off of the circumstances of the industry at hand, such as silicon or diamond production.
- Technological- When one firm or entity controls the means of production for a specific good due to their sole knowledge of the production methods or other factors.
- Governmental-When government controls an industry, an example would be healthcare insurance in Nordic nations.