Market & Competition
This is the term for a market structure where a single company or seller dominates the entire industry, offering a unique product with no close substitutes.
What is MONOPOLY?
A financial instrument that represents ownership in a corporation and a claim on a portion of its assets and earnings.
What is STOCK?
This industrialist, nicknamed the “Oil King,” built a vast petroleum empire in the late 1800s, using aggressive business practices to establish one of the first monopolies in U.S. history.
Who is JOHN D. ROCKEFELLER?
Named after a German mathematician, this theory attempts to model the strategic interaction and decision-making between rational, competing players, often applied to price wars or advertising campaigns.
What is GAME THEORY?
Often referred to as "repo," this short-term financial transaction involves the sale of securities with an agreement to buy them back later at a slightly higher price, functioning as a collateralized loan.
What is REPURCHASE AGREEMENT?
In 1602, this company became the first to issue stocks, effectively creating the world’s first publicly traded company.
What is DUTCH EAST INDIA COMPANY?
This aggressive, often temporary, pricing strategy involves setting a product's initial price artificially low to quickly gain market share, drive out smaller competitors, and discourage new entrants.
What is PREDATORY PRICING?
Known as a “robber baron” by some and a “captain of industry” by others, this American banker helped reorganize U.S. railroads and consolidated General Electric, becoming one of the most powerful financiers of the Gilded Age.
Who is JP MORGAN?
This Italian merchant and banker family dominated European finance during the Renaissance and sponsored artists like Michelangelo and Leonardo da Vinci.
What is MEDICI?
This term refers to the sum of all monetary transactions between a country and the rest of the world over a specified period, including the current account and the capital/financial account.
What is BALANCE OF PAYMENTS (BOP)?
This contract grants an investor the right, but not the obligation, to buy shares in a company at a predetermined price at a later funding round, typically used by angel investors to defer valuation.
What is CONVERTIBLE NOTE?
This Scottish inventor really knew “Watt” was up when it came to improving the steam engine in the late 18th century, dramatically increasing its efficiency and fueling the Industrial Revolution. His innovations helped factories and transportation systems expand across Britain and beyond.
Who is JAMES WATT?
This American economist, known for his work on competition and industrial organization, introduced the concept of "creative destruction," arguing that the "perennial gale" of innovation continuously destroys old economic structures while creating new ones.
Who is JOSEPH SCHUMPETER ?
Founded in the 1850s by three immigrant brothers from Bavaria as a cotton trading firm, this company grew into a major Wall Street investment bank. On September 15, 2008, it collapsed under the weight of mortgage-backed securities and filed the largest bankruptcy in U.S. history, triggering the global financial crisis.
Who are LEHMAN BROTHERS?
This German sociologist and political economist studied how religion influenced economic behavior and argued that the Protestant work ethic helped foster the development of capitalism in Europe. He is best known for his book The Protestant Ethic and the Spirit of Capitalism (hint: his first name is the same as a famous Dutch Formula 1 champion).
Who is MAX WEBER?