Why might a monopoly or a trust in a certain industry be bad for both consumers and workers?

Skilled workers in such an industry have to work for the trust/monopoly or not work in their skill set. This gives the employer much leverage in pay/benefit negotiations.

Since consumers have no choice but to buy from the trust/monopoly they have to pay (usually) higher prices than they would if there were competition between businesses owned by different people.

Without competition there might be little incentive to improve product quality and to develop new products.

Because the workers don't do there job and the customers get mad and leave

nikitavidya0 nikitavidya0 · Answer 2 · 2022-08-17T12:09:31+02:00

The monopoly or trust in a certain industry might be bad in some situations for the consumers and workers because consumers might overcharge and workers are underpaid.

What is a monopoly?

Monopoly refers to the market condition in which the single marketer or the manufacturer enjoys the complete control over the supply of the goods and services. In the monopoly kind of situation, complete control of the prices are in the hands of the industrialist.

The company has the greater influence over the market situation. When a monopoly exists, businesses may overcharge clients because they are aware that they will be forced to make a purchase because there are no other options.

A monopoly may also underpay employees who possess specialized talents in the business, since they would be forced to work because they would have nowhere else to turn.

Learn more about monopoly here:

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