Harry Potter Monopolies

Monopolies are a form of industry in which a few companies control all the aspects of their field. They set the prices, they promote to whom they want to sell to and receive all the profits. Monopolies and advertising go hand in hand. Advertising is what transforms a company into a monopoly. This then affects what people think they want and need. Thus, monopolies are what we consider as the leading companies and they are the ones who control most of the media shown to the public, this can either be benefiting or unsatisfactory, depends on who you are. Monopolies are what form unfair fields for advertising. A spectator will trust a well-known source over a developing unknown business. W James Potter discusses monopolies within “media literacy”. One form of monopolies is the monopolistic competition. The high profits in which the monopolies generate attract other companies to compete with them to try and receive the same or better profits. Over time they continue to grow and less companies try to compete. The price of competing becomes too high to receive benefits (Potter 142). Thus, it becomes monopolistic companies competing against each other. This then hurts consumers because the prices keep rising due to the company’s competition. This in turn also hurts small-scale companies and others that are trying to become larger. Its more than just difficult for a minuscule company to produce any headway in a market that is mostly run by …show more content…
With monopolies in mind, the public would now be able to recognize the structural faults in which the monopolies feed off of. Hopefully this then allows the public to have a more individualized opinion and support unsuccessful companies to allow them to grow. Monopolies and advertising will not change anytime soon but over time with more regulations and more knowledge on the topic the public and developing companies will be able to change