Market structures
A monopoly that is made legal by the government and kept under controlled conditions.
What are regulated monopolies?
A federal regulation intended to prevent monopolies from forming and prices from being fixed
what is the Sherman Antitrust Act?
Using minimum amounts of resources to the best advantage
Effecient
The type of market, or environment, in which businesses operate.
What is market structure?
A federal regulation that established a regulatory agency to monitor business activities in order to prevent unfair competition.
What is the Federal Trade Commission Act?
Having minimal resources or goods.
scarcity
A market structure in which there are relatively few sellers, and industry leaders determine most prices.
what is an Oligopoly?
A federal regulation that prohibits price discrimination
What is the Robinson-Patman Act?
An illegal agreement that forbids customers from buying goods and services from competitors
What is an Exclusive Agreement?
A type of market structure in which a market is controlled by one supplier, and there are no substitute goods or services readily available.
What is a monopoly?
A federal regulation intended to protect competitors from takeovers that would limit competition
What is the Celler-Kefauver Antimerger Act?
An illegal activity in which a business charges different customers different prices for similar amounts and types of products
What is Price Discrimination?
An economic system in which individuals and groups, rather than the government, own or control the means of production; also known as free market economy
What is Private Enterprise System?
A federal regulation intended to prevent specific business actions that might restrict competition (e.g., tying agreements and exclusive agreements)
What is the Clayton Act?
Getting amounts of money back after certain purchases.
what are rebates?