Monopolistic behavior of facbook, is it a monopoly Essay

Monopolistic behavior of facbook, is it a monopoly - Essay Example 3). A monopoly refers to a market with only one seller of a particular good or service. A monopoly is characterized by a single seller in the market and, therefore, no competition. In connection to this, the seller makes abnormal profits as a result of market domination. Abnormal profits are realized because there are many buyers in the market, and the seller is the price maker. Moreover, the seller controls the good or service prices in that market; there is information asymmetry; consumers do not have complete information; the product does not have close substitutes and there are barriers to entry. (Sexton 332) An oligopoly is a market that is dominated by few sellers. It has two to ten firms in the business competing with each other. Oligopoly mostly results from collusion where several firms come together to form a single firm and, therefore, reduce competition. Oligopolies compete on the basis of prices, technological innovation, quantity, reputation, or advertising. Oligopolies are characterized by few firms in the business such that the actions of one firm influence those of another. The products may be homogenous or differentiated; there is non-price competition where firms compete on other terms apart from prices including differentiated products, loyalty schemes or advertisement; oligopolistic firm are so large that their individual actions affect the market conditions; the firms have perfect information, but buyers have imperfect information. (Sexton 332-333). From the description Facebook is not a pure monopoly since there are other firms in the business as twitter, LinkedIn and MySpace among others. It would be considered a leading oligopoly since collusion and acquisition of other firms has given it an advantage over other social network firms. However given the recent efforts example buying Oculus Rift and WhatsApp there is concern that this

Templeton Essay Example | Topics and Well Written Essays - 500 words

Templeton - Essay Example Since God is described as omnipotent and omniscient in most religions, then using science, He won’t be physically detected, measured, and studied. Shermer states that because of this, if we were to encounter such a being then it would be hard to distinguish it from an Extra-Terrestrial Intelligence (ETI). Just like we have advanced in science and medicine, over the span of only half a century, then an ETI a few thousand centuries ahead of us would be able to create whole ecosystems and even universes (Templeton). According to Shermer, this is no different than what people might call God. If science were to discover a great being, then it would also be natural and limited by the laws of nature, not something omnipotent. That is why Shermer states that the belief of God can continue with science but the existence of God becomes obsolete. I think Shermer is right in saying that belief can coexist with science. However his views are a bit limiting towards God. Since God is viewed as omnipotent and omniscient then He can’t possibly be measured, detected, and contained, and just because science can’t calculate Him doesn’t mean that His existence becomes obsolete. Just like religions and beliefs, science also has its limitations and contradictions. For example, we can’t truly measure emotions like love and sorrow. However, just because they can’t be measured, doesn’t mean that only their belief is fine and their existence obsolete. Kenneth R. Miller does not believe that science makes God obsolete. According to Miller, science gives us more ways to appreciate and realize the vastness of God and His creation. God doesn’t have to be something that is in darkness and shadows. Why can’t He be the driving force of evolution, biology, and science? Miller states that God is real and instead of limiting Him to the remote regions of our