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Micro Economics - Essay Example

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According to the author, the position acquired by Google in its market is where any business entity would desire to be. The article addresses that in order to ensure its supremacy in the market; Google has adopted twisted rules including the implementation of convoluted algorithms angled to favor its own services and products instead of reporting those search results that are most relevant. Therefore being a manipulative dominant player in the market, it has been referred by the author as a monopoly. Google has been termed as a brand killer in the article as it is using its algorithms for manipulating search results and thus in turn pushing the traffic towards its favored brands, products, services and organizations. The two microeconomic concepts that are found to be associated with the given article are monopoly and the concept of supply and demand. Now that the article main objective has been discussed, the microeconomic concepts employed in this article should be pointed out. One major microeconomic concept regarding various types of markets is “Monopoly”. Monopoly is usually referred in the economic terms as a sole seller operating in the market. The monopoly is characterized by being a price maker. It restricts the entry of other competing firms. The product or service that is offered by the monopoly usually lacks any close substitute. Therefore it can be referred as a single player within the whole market. However any firm dominating a particular industry and exercising these characteristics

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can be considered as monopoly. Here in the given article Google is correctly referred as a monopoly that is operating in the search engine market with its authority. Although, contending search organizations do exist, but Google has acquired the dominance in the market by making it more user-friendly and easily accessible. Google initially penetrated the market globally and now it has initiated using manipulative algorithms that are hurting its competing brands. Thus Google is exercising its power to limit competition. Moreover, Google has the power to be the price maker in the industry. It has acquired such dominance over the mobile search and other search markets, that its manipulative strategy can hurt any business entity. Therefore the author has correctly employed the term monopoly for explaining the Google strength over the search engine market (Katz). The second concept employed in the article is not that much apparent but wherever a market exists, this concept can be employed. Supply and demand are the basic core functions of the market. In the given case, Google is providing the sole source of search results demanded by Google users all over the globe. This innate need of browsing with the advent of internet technology has been excellently studied by Google. Google offers its services to all corners of the world with the ease of personalization. Moreover, Google has created the need in the consumers to use its personalized services to remain connected throughout the world. The dominance of Google is therefore established by being an effective supplier of services demanded by users all over the world. Other search engines do provide this facility but the easily formatted interface of Google has helped in enhancing its usage. Therefore its competitors fail to provide their services as substitute. Moreover the services offered by Google can be categorized as normal goods and that are demanded by internet users
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Summary

Micro Economics Introduction In an article posted in The Wall Street Journal, the author has reported that the Google has acquired around 82% of the online search market globally while almost ninety eight percent of the mobile search…
Micro Economics
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