Monopoly's Impact on Businesses and Consumers

This assignment examines the effects of monopolies on both businesses and consumers. It explores various aspects including causes of monopolies, their impact on market competition, pricing strategies, consumer welfare, and potential regulatory responses. The analysis draws upon academic literature, case studies, and online resources to provide a comprehensive understanding of the complexities surrounding monopolies in modern economies.

Can UK Governments effectively prevent the
formulation of monopolies and curb unfair practices of
large corporations- A Case Study of TFL.

LITERATURE REVIEW
Introduction
This chapter focuses on the conducting the literature review on the topic that government
of UK mainly focuses on preventing the formulation of the monopolies and control the unfair
practices and activities of the large organization. The key purpose of conducting the literature
review is to examine the pat studies that was conducted on the topic. Along with this, the
knowledge also support in gaining and highlighting the gaps that are existing within the study.
Theoretical framework
The concept of monopoly and its feature
Monopoly is defined as a market situation in which there is only one seller of the
merchandise or service in the market that mainly create an obstacle for the new entrants to enter
into the market. Under this type of market Monopolist Company can sell their services at any of
the prices in the competitive environment. As per the view of Aithal (2015) if the company
charges the high prices for the commodity them it may reduce the demand of their services and if
they lower the prices it results in increasing the demand of the services. Government may easily
grant the status of monopoly to their local representative body by allowing them permission to
render effective services within the economy. According to Foster (2014) in the market structure
pure monopoly and perfect competition are termed as the major cases of the market structure that
benefit the organization to sustain its position through performing proper activities and
delivering services to the customers. Along with this, in monopoly structure there is only single
seller that deliver the quality services that have no close substitution. For instance, Transport for
London this, is an agency framed by the government that deliver the services related with
recreating the rails and roads so that it may deliver easy and conveyance transportation to the
residents of the UK. There are certain features of monopoly it mainly include single seller and
the large number of buyers. As per the view of Allen (2013) the monopolist firm is the one that
dominate the market by delivering the unique services but the number of buyers towards the
services are very large in number. On the other hand, another feature of monopoly include that
there is no close variation or substitution of the services as they are the leading organization
within the UK market that whose products and services are non-substitutable. As per the view of
Merhav (2013) firm working in the monopoly market mainly faces downwardly slanting demand

curve that clearly indicate that with lowering of the price company would deliver most of the
services and vice versa. Therefore, it is stated that within the monopoly market elasticity of
demand factor is consider as significant for the organization (Poscher, 2016).
LITERATURE REVIEW
Government on monopolies
From the view point of Aithal (2016) it is also stated that the sometime governmental
authorities focuses on granting private monopolies to the company where they found that there is
no such alternative as with the rise in monopoly the company ultimately results in enhancing the
level of prices and limit of their industry. On the other hand, contrary to the above statement
companies would replicate the services for attaining the competitive positioning in the market
(Calabresi and Leibowitz, 2013). Although it is also termed as market situation in which there is
only one seller of the merchandise or service in the market that mainly create an obstacle for the
new entrants to enter into the market. Under this Company can advertise their services at any of
the prices in the competitive environment. Along with this government obviate enabling private
monopolies as with the constant up gradation in the technology and other factors. Along with
this, it has also assessed that with the developing world the government has changed their
perception towards the monopoly approach and driven the cost of public transport above the
market rates and price so that mire customer prefer the services. Therefore, as the result
governmental authorities is converting the the public transportation system into the competitive
scheme (Rowley, 2013).
Transportation sector in UK
The transportation sector of UK has been flourishing since 1952 with the trends setting in
the sale of cars and road transports. The combination of rails, roads, air and water all constitute
to the modes of transport. With time and technology all of these developed to a great extent. The
share of working has been changing with time as the freight of transportation has been evolving.
People became smarter and developed ways that helped the growth of this sector (Pereira and
Rodrigues, 2014). Aviation, buses, trains, cruises, ships, airline that is the aeroplanes, etc. are
some of the mediums through which transportation is possible. The use of these modes is just not
limited to human beings or domestic activities but the country performs its logistics and mail
transportation also via them.
Transport for London (TFL)

Transport for London(Tfl) is the sole regulating public sector organisation that takes care
of the transportation mode of London. Life without transportation was unimaginable about 100
or more years back. It came up as a boon to mankind (Brand, Anable and Tran, 2013). In case of
emergency to fulfil all sorts of personal and governmental operations transportation is an
inseparable part. Any business is set up at such a location so that it can transport or send and
collect its resources and products to the markets.
Railways are predominantly used for inbound travel while air and water ways are
collectively used for both inbound and outbound purposes. London has its own governing body
for the regulation and maintenance of the transportation facilities in the city. This has helped the
government to apply much better transportation methodologies and give the necessary
convenience and comfort to people (Waisman, Guivarch and Lecocq, 2013). That would be
commendable that UK has international rail transport. It connects itself with France and Belgium
and many others like Northern Ireland via highly advanced railways.
Apart from these modes of transportation, the country has also initiated rapid transit
system. This has been assigned currently to three of the cities in UK. This sort of transportation
is underground that is through tunnels (Tezel and et. al., 201). These have helped in managing
huge traffic conditions and also one of the most affordable modes for the country people. The
current ratio for the transportation modes in UK is that 83% is covered by car or taxi, 5% by bus
10% by rails. While the air travelling fare was almost negligible.
People always tend towards a comfortable and budget friendly travelling option. That is
the reason that UK has much more utilisation of road transport that too private cars and taxis
while rails and others are used only for emergency or commercial purposes (Postance and et. al.,
2016). TfL that is the transport for London was utilised for the urban section of the city while the
suburban areas were under the scrutiny of DfT that is Department for transport in London. All
the activities like maintenance, repair, introduction of new modes all are conducted by the TfL in
London. All the vehicles and the mediums are well connected through radio and internet so that
in case of any emergency the country can track the locomotive and have a better insight in the
situation (Sinha, Das and Bera, 2016). Such security features must be included in all the
transportation modes of the country and the world.
EMPIRICAL REVIEW

Government practices and policies to regulate monopolies in UK
The government may desire to regulate monopolies to defend the interests of consumers.
For example, monopolies have the power within the market to set prices higher than in
competitive markets. The government can regulate monopolies through price capping, yardstick
competition and preventing the growth of monopoly power. According to McCabe and et. Al
(2013) the key practice that is used by the government for regulating the monopolies is enabling
price capping by the regulators. With the increasing or newly established industries such as gas,
electricity and water the governmental authorities has created authoritarian body that mainly
include OFGEM for the gas market, OFWAT for water market and the last body is ORR that is
primarily for rail and road market. Therefore with the help of this they can easily limit the
increase in their prices. As per the view of Hannah (2013) another governmental practices
include regulation of quality of service the supervisor must review the services quality that is
provided by the monopoly for their consumer and residential individuals. For instance, the rail
regulator would measure the safety standard and records of the rail corporation in order to
regulate the monopoly. From the view point of Stiglitz and Rosengard (2015) the key policy to
regulate the monopoly in UK include merger policy. With the help of engaging in merger policy
the authority has right to investigate the merger that could results in creating power of the
monopoly. In the situation with merger if the firm creates or acquires more than quarter of the
market share it is referred to the Competition Commission (Tricker, 2015). Then the final
decision is taken by the Commission that would allow or block the merger among the
corporation.
Governments can create regulatory bodies that limit price increases. Such policies are
planned to cut or minimize the unfair business activities. As per the view of Spithoven,
Vanhaverbeke and Roijakkers (2013) monopolies can charge irrationally high prices for their
merchandise and services, making it so that most of the clients cannot have enough money to
acquire those assistance. If the practices of monopoly sells a vital service, its denial in lowering
the prices can prove adverse to consumers and probably deprive a region or area. The intent of
price caps is to foreclose monopolies from refusing to deliver crucial services to certain areas.
As per the view of Brigham and Ehrhardt (2013) policy-makers can analyse the quality of
services a monopoly provide to make sure that they are meeting the standard criteria of the
industry. Regulators can investigate actions that suggest monopolies are practising price fixing,

predatory pricing or market segmentation. These three schemes are major concerns for
governments, so regulators can break up a monopoly if it abuses its power by entering into any
of these activities.
Each and every government decides how it treats violators for instance, In the United
States; monopolies that breach anti-trust laws are illegally responsible for the activities. The
Sherman Act makes monopolization or attempts to monopolize a trade a felony, and violators
can be punished by fine or imprisonment. However, in China, violators of such provisions are
subject to administrative pcenalties. In addition, Chinese companies that cooperate in anti-
monopoly law enforcement investigations can face lower penalties.
Along with this as per the view of Berry (2015) Office of fair trading (OFT) is an another
not for profit organization within UK region that is setup by the legislation that is Fair Trading
Act whose key aim is to regulate and control monopoly within the region. Along with this, OFT
also aims to protect and meet the consumer rights so that they may not create monopoly in the
market. Along with this, it also focuses on avoiding or prohibiting the unfair practices conducted
by the organization in form of rogue trading as well as illegal scam (Baldwin, Cave and Lodge,
2012). Moreover, there are also Anti-competitive agreements that need to be formulated by the
organization so that they can easily regulate the monopoly market. With the help of these
agreements organization or businesses can easily engage in the competitive and fair practices so
that they can benefit the individuals residing in the UK. Along with this, the agreement also
agrees to fix the prices of their services through agreeing with their rival companies. In addition
to this, they would not engage in any sort of discrimination activities for instance, charging
different prices to customers for the same services. Joskow (2014) has also stated that
government must also focuses on the imposing the penalties within the regulations for the
individual or party that breaches the terms of competition law. The OFT has an immense power
through which company has to pay penalty of 10% of the annual turnover of the company.
UK Government polices for unfair practices of large organization
Large organizations are involved into unfair practices. These are such as discrimination,
breaking of laws, use of copyright designs, etc. These practices are unethical, UK government
takes strict action against such kind of activities (Alcock, 2014). Employment & law 2016
clearly defines that each employer has to give all rights to employees and they should not
discriminate them on the bases of race, nation or others. According to Gornall, 2014 if any

organization found guilty then UK government takes strict action against the defaulter. It may be
possible that authorities cancel their license (Gornall, 2014). This legislation have been made for
the welfare of workers in the large firms. According to the regulation it is compulsory for the
employer of big corporation to pay timely wages to staff members as per the current rate of per
hour. Company can not refuse from giving timely payments to them, if any complains occur then
authorities may punish the firm. In the year 1 April 2016 some changes regarding parental leave,
hour of work, wages etc. have taken place. For instance one case happened in Wal-Mart, it found
in unfair practices in the workplace, due to this workers have begun strike. In the year 2008 Wal-
Mart came into existence that company is not paying wages to employees for hour worked. US
government has taken strict action against the organization. Chicago federal court warn the large
firm to follow the rules and alleging the minimum wages policies.
Consumer protection from unfair trading regulations 2008 is the UK law which focuses
on protection of consumer rights and take action against misleading trading practices. According
to this law company can not make false commitment for selling its products. According to Lall,
2016 Sales persons have to tell truth about the goods to consumers. Misleading includes wrong
advertisement regarding price and quality etc (Lall, 2016). For example it is the responsibility of
BMW to provide service and repair as per its agreement to customers. If company refuse to do it
then it will be breaching of regulations. Then in case service users have full rights to claim for
the same and in this case UK government has made many laws which supports the end users for
that. In this case enterprise will be bound to pay compensation to victim.
The Consumer Protection from Unfair Trading Regulations 2008 (the CPRs) works for
the misleading actions and omissions. According to Sandford (2015) if company produces
similar products or copyrights goods then it is completely unethical. In this case authorities takes
immediate action and bend the entire working of firm. For example in 2010 Oracle filed a case
against the Google. Company claim that Google has used its patents creation of android mobile.
It was about the copyright violation in the API, lower court gave its opinion in side of Google
but now it has moved to federal government (Consumer protection from the unfair trading,
2008). If company found guilty then it may be possible that its all android phones can be ceased.
Copyright act 1909 supports the rights of organization, White-Smith Music publishing company
vs. Apollo company case was the biggest example of unfair practices.

Consumer protection unfair trading regulation 2008 is the effective law, according to this
legislation 31 things have been banned such as bait advertising, bail and switch, false free offers,
pressure selling, aggressive doorstep selling etc. According to Bernstein (2015) Business
protection from misleading marketing regulation 2008 states that company can not use the words
and design of rival products to market the products. This act clearly says that organizations can
not display a quality marks if product is not having quality. It states that companies can not
compare the material and products with other firms.
Equality act 2010 of UK government shows that companies have to provide equal
opportunities to all workers. They can not discriminate the person on the bases on race, age or
gender. It is completely unfair practice, so it very important that firms follow the legislation
strictly and create ethical working environment. If any entity found in mistake then government
takes strict action against the organization. For example in the year of 2013 TESCO's workers
have won the case of discrimination. According to Gordon (2013) As it was found that leading
supermarket was engaged in unfair practices. It treats unfair to Muslim workers, in prayer lobby
anyone can get entered but it was strict for Muslim labour that they have to take permission of
higher authorities before entering in lobby. Labour has filed the case against the TESCO and
government supported the employees and give ultimatum to organization to pay compensations
for its mistake.
According to Terry (2013) Unfair business practices can also arise in several other meters
such as tenancy matters, purchase and services to consumers, insurance claims, debt collection
etc. UK government has made in favour of this, so that unfair practices can be minimized from
the large organizations. Competition law, restraint of trade, unfair competition, etc. are some
positive legislation which protect rights of employees and consumers (Weimer and Vining,
2015). Common laws are not enough to minimize unfair practices in the large organizations, so
UK government has taken impact full step and it has made several laws which can help in
making work environment more ethical. It is very compulsory for the all big entities to follow
these legislations. According to Gornall (2014) if any firm found breaking or not following the
laws then it will count as unfair practice. As it is necessary to make legal agreement, it is
essential to send demand letter to service users if person has taken legal against the firm. If

company is not following that or fails to make a resealable offer of settlement then it will be
liable to pay compensation for damages which occurred due to faulty goods.
Steps taken by the UK Government to control monopolies
There are different steps that are taken by the UK governmental authorities in controlling
and dominating the monopolies within the region. As per the view of Lall (2016) the foremost
key method that is used by the authorities for controlling the monopolies include with the help of
taxation. It is an effective method in which the UK government impose certain taxes in order to
order to control and regulate the monopoly within the region. The taxation that is impose by the
government must be in the particular unit that may be termed as specific tax. On the other hand,
the taxation enforced by the government must also be in the lump sump tax in the respect to their
output. The particular or specific tax impose by the government include excise duty as well as
sales tax that control and regulate the monopoly and even generate revenue for the firm. As per
the view of Behrends, Lindholm and Woxenius (2008) another step taken by the governing
authorities is charging lump sum tax that may be in the form of license fee that are impose on the
organization regarding their level of output.
Along with this, there are several other steps that are taken by the UK governmental
authorities for controlling the monopolies in the market that is removing barrier of the entrant.
The government must permit the license for the companies so that they may renders proper
services related with the monopoly company that is Transport for London. The administrative as
well as licensing procedure of the new company must be made more flexible so that they may
encourage the new firm to engage their activities in the monopoly market (Bernard, Jensen and
Schott, 2007). In the circumstances if the domestic monopoly is secured from the foreign
competition with the proper existence of tariffs. Thus, it further restrict and obviate the importing
activities therefore, the governance would reduce the tariff rates.
According to Mačiulis, Vasiliauskas and Jakubauskas (2009) another step that is taken by
the authority for controlling monopolies include engaging in setting quality control as well as
standard control by the department so that they can easily construct and recreate the rail and road
route within the London and other nearby areas. With the help of this setting quality control
standard they can easily assess that the constructed road and rail routes by the TFL is accordant
with the standard and quality. On the contrary to this, McKinnon (2007) has stated that if in the
situation of standard of quality control is not been set up then the monopoly need to be pay fine

for their practices. In addition to this, another step that is taken by the UK government for
controlling and regulating the monopoly company include investing in formulating various
protection and governmental grants such as patents, copyrights and trademarks etc. that would
assists the company in making their leading position in the marketplace (Rietveld and Bruinsma,
2012). With the help of taking all these step governing authorities must focuses on protecting the
intellectual property and holdings of the monopoly company so that they can maintain
uniqueness within their services that hold special place in the overall marketplace.
On the other hand, another action that is taken by the government authorities for
controlling the monopoly include engaging in implementing the regulatory system that is
European Union and European Commission within the market that would focus on their
practices and action that support the monopoly company to engage in the ethical and fair
practices that further assists them in attaining the leading position (Spithoven, Vanhaverbeke and
Roijakkers, 2013).
Steps taken by UK government on the unfair practices of large organization
With the giant organization in the UK region there are different organizations that merge
their activities with the other that outcome in the arising the situation of monopoly (Brigham and
Ehrhardt, 2013). In order to attain social and economic development of the economy monopoly
situation is not effective in the market. Therefore, it results in concentration of the economic
power, increase in the unfair trade practices, black marketing etc. as per the view of McCabe and
et. al (2013) it is also stated that increasing monopolies create barrier to the new entrants as well
as it also tries eliminate the competitors from the industry. In addition to this, with the increase in
the market of the giant organization it also impact the interests of the consumers. They are
engaged in paying high prices for the services and products as with the increasing monopoly it
results in influencing and affecting the UK economic policy of the region (Hannah, 2013).
Therefore, it is required that government of all the region would engage in the action that would
try to prevent the monopoly situation so that organization may not engage in the unfair practices.
As per the view of Sinha, Das and Bera (2016) the key step that is taken by the
government on the unfair practices of the large organization include engaging in promoting the
fair competition practices so that it might not results in attaining the unfair practices.
Competition ensure efficiency of the business organization that outcome in attaining better
quality of the products and services, reduced prices as well as attaining range of choice to the

customers. Thereafter actions taken by the company in promoting fair contention would prohibit
the unfair practices among the company. With the help of promoting fair competition it might
also support the organization to engage in the ethical business practices. On the other hand,
Postance and et. al (2016) has also stated that another step that is used by the government on the
unfair practices include engaging in the consumer associations. With the help of forming the
association of the consumers it results in protecting and promoting the rights and interest of the
customers within the market. It is also associated that association or unification of the consumer
would assists in fighting against the partial trade activity as well as exploitation. In the developed
countries the consumer association is very strong as it protect their rights and duties. Along with
this, Tezel and et. al (2016) has also stated that with the consumer association step taken by the
government they would come to know regarding the need of the customers so that large
organization may deal with the activities that would meet the requirement and demand of the
customers
Along with this, Waisman, Guivarch and Lecocq (2013) has also stated that change in the
practices also consider as an effective practices that is used by the governmental authorities so
that they can overcome the unfair practices of the organization. With the help of change in the
practices of organization it results in changing overall process and activities of the organization.
Along with this, it is also stated that it is not possible that there is always positive change within
the practices and it enhances the overall performance of the organization (Rowley, 2013). As,
sometime the change in practice also results in attaining negative impact on the practices of the
business.
SUMMARY OF THE LITERATURE REVIEW
Impact of monopoly on the practices on large corporation
In the situation when there is formation of monopoly within UK by the emergence of
giant organization then it would negatively impact on their practices that is would results in
performing unfair practices as they gained the competitive status in the market. As per the view
of Brand, Anable and Tran (2013) it is also stated that with attaining the leading position in the
market the large corporation is in the position to set the prices of their commodity and services
by own. Along with this, another impact of monopoly is to promote and enhance the level of
competition in the economy as there would be fewer requirements of the government regulation
and control. According to Pereir and Rodrigues (2014) another impact of monopoly on the

practices of large corporation would that company can charge prices according to the demand as
they are the sole corporation that deals in serving the service related with recreation of the
different routes related with road or rail transport.
Along with this, as the sole trader within the market they have no competition as well as
price restriction. The monopoly company that is Transport for London must focuses on the
patent so that they may get leading position in the market and thus it also prevent from the
market entry. Calabresi and Leibowitz (2013) has also stated that monopoly has mainly affected
the business in terms of price, supply and demand. The monopolistic company is in the situation
to increase the prices of products as there is no such competition in the market. With the high
price also individual is unable to purchase the substitute group therefore it would affect the
pricing of their products. On the other hand, Rose-Ackerman and Palifka (2016) argues that
monopoly is considered as an effective for the high profile company it mainly focuses on
supporting to the grants of funds that is mainly into the research and development. In comparison
with business existing in the competitive marketplace mainly engage in transforming and
changing the different products and merchandise with the reduced prices. It is also impacted that
monopoly market focuses on overcoming the barrier to the entry of the new organization
(Khurana, 2015).
Moreover, the affect of monopoly include dismantling the monopoly company with the
help of bifurcating the organization as well as bundle of products and services into the regional
services. Therefore, it is stated that separation of the organization would directly reduces the
barrier of the new entrants (What effect does a monopoly have on business? 2011). As the new
company would results in delivering range of other services to the customers that is on the low
cost value that would benefit the government in protecting formulation of the monopoly. From
the view point of Jamal and Sunder (2014) another impact of monopoly on the giant firm include
that it ensure proper restriction and regulation. In the monopolistic market it is essential for the
organization to focus on all the regulations and legal legislations that are framed by the UK
government. Along with this for entering into the market businesses need to be focus on the
particular restriction therefore, it require huge financial investment by the firm that results in the
affecting the overall business (How does a monopoly affects business and consumer? 2016).
Lastly, Baldwin, Cave and Lodge (2012) has also stated that monopoly also affect the
business within the UK is that it focuses on the adding the extra cost of the market entry. In the

monopolistic market the entry of the business is very high as they require huge amount
investment to set up their premises in the dominant marketplace. The set up of the new
businesses focuses on enabling technical and financial arrangement that quite be difficult and
very expensive. Therefore, it is said that monopoly market negatively impact the businesses as if
would also affect the activities of Transport for London on the rail and road route recreation.
From the above conducted literature review it is stated that yes UK government
effectively prevent the formulation of the monopolies and also control the unfair practices of the
large organization so that they may easily render their service in the prefect competition market.
It has been also sum up that government also plays vital role in the monopoly market as they do
not want the single organization to dominant the market place for this, government has enforced
various legislation and acts that benefit the company to engage in the fair practices. With the
help of forming the association of the consumers it results in protecting and promoting the rights
and interest of the customers within the market. It is also associated that association or
unification of the consumer would assists in fighting against the partial trade activity as well as
exploitation. In the developed countries the consumer association is very strong as it protect their
rights and duties.
From the above conducted literature review it has been assessed that it has contributed in
drawing the attention towards the monopoly activities that are performed by the organization.
The literature has also focuses on overcoming and drawing the particular articulation on
controlling the unfair practices of the large corporation so that it might avoid the formulation of
monopolies in the market.

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