What is a monopoly? Explain its features in detail
Monopoly is a board game that simulates the economic principles of monopolistic competition. The game is played on a board with spaces representing properties that players can buy and develop. The goal of the game is to become the wealthiest player by buying and developing properties and charging other players rent when they land on those properties.
The game features several key elements:
Properties: Players can buy properties, such as streets, railroads, and utilities, by landing on them and paying the purchase price. Once a player owns a property, they can develop it by building houses and hotels, which increases the rent that other players have to pay when they land on the property.
Chance and Community Chest cards: These cards can either help or harm the player, providing them with money or putting them in debt.
Free parking: Players can collect money from other players when they land on the Free Parking space, which can be used to buy properties or pay off debts.
Go to jail: Players can land on the "Go to Jail" space, which sends them directly to jail. While in jail, players cannot collect rent or develop properties, but they can still collect money from other players who land on their properties.
Income Tax and Luxury Tax: Players must pay a percentage of their wealth to the bank when they land on the Income Tax or Luxury Tax spaces.
Bankruptcy: Players can become bankrupt if they are unable to pay their debts. When a player goes bankrupt, they must turn over all of their properties and money to the other players and be eliminated from the game.
Game end: The game ends when one player has all the properties on the board or all other players have gone bankrupt. The remaining player with the most wealth is declared the winner.
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