What is the term for huge corporate structures that control entire industries or areas of the economy?

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Alayna Lloyd

12 May, 08:49

What is the term for huge corporate structures that control entire industries or areas of the economy?

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Cochran · Answer 1

When a company controls an entire industry or a specific area of the economy it has a monopoly. Democratic governments tend to break up monopolies as they can be unhealthy for their economies. Monopolies can stifle innovation and competition.