facebook internal assesment - Lindsey Barnett AP Economics...

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Lindsey Barnett AP Economics Topic: Google/Facebook Word Count: 710 The Internet is used so much in just our daily routines it is almost impossible to imagine our lives without it. The article by Tim Wu says that that is the problem, the reason by internet sites are turning into what looks like monopolies is because of us, the people. This is a lot like the invisible hand; the invisible hand refers to the idea that the people in the market can shift the market any which way the popular decision favors, in laments terms what ever is more popular with the people will succeed. The article talked about two Internet sites in particular, Google and Facebook. Although, Google is not the only Internet search engine out there and Facebook is not the only social networking site they are the ones that the majority of the people use creating what the article says would be a form of a monopoly. A monopoly is a firm that is a price maker whose product has no perfect substitutes and there are many buyers but only one seller.
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