Economics
The part of economics concerned with single factors and the effects of individual decisions.
What is microeconomics.
A number of different things or parts that are put or grouped together to form a whole but remain distinct entities.
What is conglomerate.
The part of economics concerned with large-scale or general economic factors, such as interest rates and national productivity.
What is macroeconomics.
The exclusive possession or control of the supply of or trade in a commodity or service.
what is Monopoly.
A system where goods production and distribution are driven by time-honored beliefs, customs, culture, and traditions.
What is traditional economy.
A state of limited competition, in which a market is shared by a small number of producers or sellers.
What is oligopoly.
An economy in which production, investment, prices, and incomes are determined centrally by a government.
what is command economy.
the situation prevailing in a market in which elements of monopoly allow individual producers or consumers to exercise some control over market prices.
What is imperfect competition.
an economic system where two forces, known as supply and demand, direct the production of goods and services.
What is market economy.
The situation prevailing in a market in which buyers and sellers are so numerous and well informed that all elements of monopoly are absent and the market price of a commodity is beyond the control of individual buyers and sellers.
What is perfect competition.