Starting a Business
Government Policies Toward Competition
Supply and Demand in the Labor Market
Categories of Workers
Introduction/The Civilian Labor Force
100
The extent to which competition prevails in particular markets.
What is market structure?
100
A board of directors, the majority of whose members also serve as the board of directors of a competing corporation
What are interlocking directorates?
100
Supply & demand
What is.. The labor market, like other markets, is affected by the law of __________.
100
Blue-collar workers
What is.. _________ are wmployed in craft, manufacturing, and nonfarm labor.
100
Labor
What is.. Everyone belongs to the productive resource known as __________.
200
Perfect competition, monopolistic competition, oligopoly, & monopoly
What are the 4 basic market struvtures in the American economy?
200
Laws to prevent new monopolies or trusts from forming & to break up those that already exist
What is antitrust legislation?
200
Labor market
What is.. Three major factors affect how supply & demand determine wages in the ___________.
200
White-collar workers
What is.. Office workers, salespeople, and doctors are examples of the largest sector of the labor force--__________.
200
Civilian Labor Force
What is.. The _______ is the total number of people 16 years old or older who are either employed or actively seeking work.
300
Market situation in which there are numerous buyers & sellers, & no sing buyer/seller can affect price
What is perfect competition?
300
To sharpen it's antitrust provisions
What is the purpose of the Clayton Act?
300
Location
What is.. The type of job and the ____________ of both the job and worker also help determine wages.
300
Service workers
What is.. _________ are those who rovide services directly to individuals.
400
A large market, a similar product, easy entry & exit, easily obtainable info., & independence
What are the 5 conditions that must exist for perfect competition?
400
When the 2 corporations that merge are in the same business
What is the horizontal merger?
400
Market failure
What is.. Economists call a lack of information about wages a _______________.
400
Unskilled workers
What is.. ________ are workers with no specialized training
400
Obstacles to competition that prevent others fro entering a market
What is barriers to entry
500
The equilibrium price
In a perfectly competitive market, what is the market price?
500
When corporation involved in a "chain" of supply merge
What is vertical merger
500
Minimum wage law
What is.. The _______________ sets the lowest legal hourly wage rate that may be paid to certain types of workers.
500
Semi-skilled workers
What is.. Those whose jobs require some training, often using modern technology, are known as _________.
500
Exclusive right to make, use, or sell an invention for a specified number of years
What is patent
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