Two or more companies work against each other to convince people to buy their products/services.
Girls and boys did this in class.
What is competition?
100
Electric company, natural gas company are examples of this.
What is examples of monopolies?
100
Industry dominated by a few suppliers who have the same control over price.
What is oligopoly?
100
Large number of sellers offer similar goods, but slightly different products and there is some control over the price.
What is monopolistic competition?
100
The two highly competitive market systems that are easy to get in to.
What is perfect competition and monopolistic competition?
200
Numerous buyers and sellers where no single buyer or seller can affect price.
Everything is just right.
What is perfect competition?
200
No close substitutes.
Single supplier of a good.
Parker Brothers game.
What is Monopoly?
200
Car manufacturers, cereal manufacturers and soda pop manufacturers are examples of this.
What is oligopoly?
200
This is critical so you will buy the product. Like the man on the horse with the cologne.
What is advertising?
200
This type of market system is best for the consumer
What is perfect competition?
300
The amount of competition companies face.
This little piggy held this up.
What is market structure?
300
Drawbacks to monopoly.
I have to have heat!!!!!
I have no choice but to do this.
What is pay the price asked?
300
Manufacturers use minor differences in features to show a difference between their goods.
What is product differentiation?
300
Form of collusion in oligopolies where business leaders reduce international competition by controlling price and production. Blood diamonds.
What is Cartel?
300
Two laws made in the legislature to stop the monopolies.
What is Sherman Antitrust and Clayton Act?
400
A hot dog stand.
A Farmer's Market.
A Flea Market.
What is examples of Perfect Competition?
400
Some barriers to entering a monopoly are...
Do you think I'm Howard Hughes?
What is cost and laws to prevent competing utility companies from entering market?
400
One does what the others do. One airline charges for bags, they all charge. Monkey see, monkey do.
What is Interdependent behavior?
400
Companies want to stand out so you will keep buying their product. Just like the fans of a winning team, you will be this.
What is loyal or brand loyalty?
400
Legal combination of two or more companies that become one corporation.
What is Merger?
500
Perfect Competition is good because it covers the cost of production, with a small profit to help pay for this---
lalacapentre.
What is the four factors of production --- land, labor, capital, entrepreneurship costs?
500
These are two of the types of monopolies.
The general store, here, has everything I need, but wow, does it cost me! I ride the public bus every day. No one has bus service except SARTA.
What is Natural and geographic monopoly?
500
Competing firms secretly agree to raise prices. This is illegal, so STOP it, guys!
What is collusion?
500
Toothpaste, cosmetics, designer clothes and things like this are
What is Examples of Monopolistic Competition?
500
This is when the government reduced the control it had over some businesses. They quit being so bossy.