Corporation in monopoly By Hannah Wilbanks, Jennifer Rioz & Camilla Jakobsen
Amanda had always been wondering why everybody she knew had an iPhone
All of her friends at lunch, her family, people at work etc. Some people had a Samsung but not many...
One day she asked her economy teatcher
Why does everyone I know have an iPhone?
You see, Steve Jobs' Apple is an international corporation that controls more than 25% of the market for electronic devices, which means it has a monopoly. That's why you see iPhones all over. Apple dominates the market for cell phones.
As you know, a corporation is a business that has its own legal identity, with advantages such as limited liability and the fact that it is easier to raise financial capital (which you have to share). Another example of a business that had monopoly is Windows, Apple's competitioner.
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