Market Structure
Type of Market with ONE company
Monopoly
The people on each side of a contract are
Parties
A business provides goods and services that satisfy _____ and _______
Needs and Wants
What fast-food chain famously sold out of chicken sandwiches in 2019?
Popeyes
What year was Fortnite released?
2017
Governments work hard in this market to prevent collusion among the few companies
Oligopoly
Rules and behaviors based on a groups idea about what is right and what is wrong
Ethics
The difference between income earned and expenses spent in order to produce the product is...
Profit
The publicly-traded fast food operating company Yum! Brands is based in Louisville and famously owns KFC along with many other chain restaurants. Name one other chain owned by Yum.
Pizza Hut, Taco Bell, The Habit Burger Grill, and WingStreet
What was the most watched Disney Channel show in 2014?
Zapped
Name an example of an oligopoly (specific market)
Cars, credit cards, airlines, phone networks, etc.
An individual's ideas about what is right and wrong
Morals
The general rise in prices throughout an economy is called ________ and the general fall is____________
Which term describes a contractual agreement where one company has an established trademark or brand that they license to others to market and sell for profit as long as they pay them royalties and other fees?
Franchise
Which rapper from the 2010's lost and eye due to glaucoma
Fetty Wap
Name one way a companies items are different in a monopolistic competition
Up to cherry
Using information from company to purchase stock for personal gains is called I______________ T___________
Insider Trading
The four types of spending in GDP are: Business Spending, C____________ Spending, Net Exports, and Government spending
Consumer
A common myth says that a certain type of bird has a name in Mandarin that means "business goose." What bird--still quite appropriately--actually has a Mandarin name that means "standing goose?"
Penguin
Describe a perfect competition
A lot of companies, SAME products
Any work completed by the employee that is owned by the company is called P___________ I____________
Proprietary information
Show me what happens here when the price of a SUBSTITUTE decreases
Demand decreases
As of 2018, the U.S. state with the least comprehensive requirements private business workers' compensation is unsurprisingly what state that prides itself on its individualism?
Texas
Who won best album in 2017?
Adele