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28 July, 16:42

Four dangers to the consumer brought about by the corporate trend included: monopolies a check on big business stifling of competition selling inferior products controlling working and living conditions

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  1. 28 July, 16:50
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    The four dangers are the following:

    monopolies stifling of competition selling inferior products controlling working and living conditions

    The industrialization process gave rise to the emergence of giant manufacturing companies, that enjoyed the benefits of economies of scale by generating huge outputs. In turn, many market structures were controlled by a single, or a few number of these giant companies.

    Monopolies and oligopolies that evolved into cartels, prevented competition and were harmful for consumers who were forced to buy worse quality products at higher prices. Moreover, the bargaing power of these large corporations, that employed the largest share of the population, was huge, so that they could decide on people's working and life conditions.
  2. 28 July, 17:36
    0
    Monopolies

    Stifling of competition

    Selling inferior products

    Controlling working and living conditions
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