The On The Board Game Monopoly - 1074 Words

Introduction: The board game Monopoly is played amongst a group of 2-8 players. Each player roles his or her dice and move around the board landing on properties, railroads, or utilities. The properties typically raise in value the further along a player moves around the board. The thought of Boardwalk’s value depreciating to Mediterranean Avenue is unheard of in the board game of Monopoly. However, in the real life game of Monopoly, a major city in America (Detroit, Michigan) had experienced a catastrophic depreciation in value that ultimately led to the city filing for chapter 9 bankruptcy. This writing assignment will evaluate the components that led to the rise and fall of a major city in America. First, it is important to examine the components that led to the growth and prosperity of Detroit, Michigan. The Rise of Detroit: The most significant factor that catapulted Detroit, Michigan to becoming a prosperous city in America was the mass production of the automobile in the early 20th century. Three companies encompassed the auto industry in America and they were Ford, General Motors, and Chrysler. Consequently, the three companies were referred to as the â€Å"Big Three.† The â€Å"Big Three† established their headquarters, and assemble plants in the Detroit area. David Littman, Senior Vice President chief Economist, Comerica Bank (retired) stated, â€Å"what really built the city of Detroit were the thing of substance of a market system entrepreneurship and incentive†¦come toShow MoreRelatedMonopoly Is A Board Game1627 Words   |  7 PagesMonopoly has been known as possibly one of the most known board games of all time. Monopoly is â€Å"a board game in which players try to enrich themselves by developing Atlantic City, New Jersey, real estate† (Philip pe R. Girard). It was â€Å"created by Charles Darrow in 1935.† The game is meant to be played with a group of people to make it more enjoyable. Millions of people around the world know of and play Monopoly. It has evolved over several years and other versions have been created over several yearsRead MoreEssay on Microeconomics and the Board Game Monopoly1024 Words   |  5 Pages All I ever needed to know about microeconomics I learned from the Hasbro board game Monopoly. Some people, like myself, need practical models in order to understand certain concepts and theories. In our text book The Economy Today it completely ignores the intrinsic value of business decisions because you can’t put a numeric value on it. The game Monopolyâ„ ¢ is all about the numbers. In the game of Monopolyâ„ ¢ you have goals: The object is to bankrupt all opponents. To do so, you must beRead MoreThe World Of Wanderlust : An Original 1935 Monopoly Board Game1484 Words   |  6 PagesAfzoon Hakeem Professor David Beck English W313 8 September 2015 The World of Wanderlust An original 1935 Monopoly board game. A beautiful painted iron trunk. An old painting in a stunning frame. Light, airy gauze tapestries. Everything from fine china to sturdy Pyrex. The place is humming with life. Everything within the store has a sense of warmth, history, and character. My sister and I decide to visit an antique store that a family friend mentioned to us last week. I like shopping at antiqueRead MoreMonopoly Product Life Cycle1436 Words   |  6 Pages Over 2000 versions in 111 countries and 43 languages, Hasbro had sold 275 million Monopoly games worldwide. The Monopoly Game is named after the economic concept of monopoly: the domination of a market by a single provider. Just right after Chess which holds the 1st place, Monopoly is ranked as the 2nd best board game of all time. Monopoly was patented in 1935 and albeit still making a steady cash-cow, Monopoly is well in its maturity stage and in the recent years it is seen also peaking intoRead MoreMonopoly and American Dream1039 Words   |  5 PagesMonopoly: Reinforcement of the American Dream Many board games are used to bring in family, friends, and even strangers to come together and socialize. What many people do not know is that sometimes these games teaches our society the values, skills, and social statuses in each individual’s life. Video games such as Medal of Honor or Call of Duty teach young teens (even children), the American pride of being a soldier. Board games such as Life teaches individuals about life in general or whatRead MoreEssay about Monopoly1378 Words   |  6 PagesMonopoly in a Stratified Society Introduction to Sociology Fall Semester, 2013 Monopoly in a Stratified Society Introduction to Sociology – Fall 2013 In an interactive lesson designed to illustrate the effects of social privilege within a class system, four individuals played two 60-minute games of the board game Monopoly. The purpose of the exercise is to provide students with an opportunity to observe multiple sociological concepts and apply learned theory to support the analysisRead MoreEssay on History of Games1404 Words   |  6 Pagesthat games have been played throughout human history. Beginning as soon as there was a moment of leisure time not devoted to survival; as soon as a communications between individuals got beyond the basics of conveying elementary needs and movements, into realm of invention and ideas. It’s a fact that games are played between babies and their parents from the first months of life, beginning with peek-a-boo and pat-a-cake and working up to hide-and-seek just as soon as a toddler is mobile. Games seemRead MoreI Am Post A Review Today Of A Board Game945 Words   |  4 PagesI thought I’d post a review today of a board game that I bought for my kids this last Christmas. Yes, I’m aware that was 5 months ago, but it’s honestly taken me this long to decide whether I love or hate it. My family, including my 8yo and my 7yo, really enjoys playing Settlers of Catan, so when I f ound out there was a version based on the building of the transcontinental railroad in the United States, my little homeschooling heart just about burst. The game, Catan Histories: Trails to Rails, isRead MoreThe Effects Of Monopolies On The Economy Essay1558 Words   |  7 PagesMonopolies People have been doing anything in their power to gain money. Many think they are leading the competition with doing nothing wrong. Others see it as unfair to do the things that monopolies have done to society. Lawsuits have been made to stop the ones behind this, but some monopolies weren’t always out to hurt the economy, but to help it. Monopolies have impacted this economy in the past and even to this day. Way back in 1932, Charles todd and his wife decided to introduce a new gameRead MoreMarket Structure Of The Company Essay1088 Words   |  5 PagesMarket Structure Introduction There are four types of market structures and they are monopoly, perfect competition, monopolistic competition, and oligopoly. What is a market structure? A market structure is â€Å"the makeup of the companies operating in a particular market.† Why is the market structure important to the producer as well as the consumer? It distinguishes the difference in seller numbers, buyer numbers, seller entry barriers, and buyer entry barriers. The main differences in market structures