Monopolies
Made a monopoly with the Oil industry
John Rockefeller
Products that are bought INSTEAD of (or replace) each other.
For example: x box and play station
Substitute Goods
A type of bank account used for saving/storing money, with an interest rate
Saving Account
Made a monopoly with the steel industry
Andrew Carnegie
Products that are bought or used WITH each other.
For example: A car and gas
Complementary Goods
A type of bank account used for spending money, with flexibility, but no interest rate
Checking Account
A monopolizing tactic that involves buying competing companies in the same industry.
Horizontal Integration
A type of product that is usually has more advertising and recognition, but higher price
For example: Cinnamon Toast Crunch, Rice Krispies
Name Brand Products
A term to indicate that you are GAINING money on an investment
Annual Percentage Yield (APY)
A monopolizing tactic that involves buying the multiple stages of production and distribution of a company
Vertical Integration
A type of product that is usually has more advertising and recognition, but higher price
For example: Cinnamon Toast Crunch, Rice Krispies
Name Brand Products
A term to indicate that you are PAYING money on an investment
Annual Percentage Rate (APR)
1: John Rockefeller created his monopoly mainly using _______ Integration.
2: Andrew Carnegie created his monopoly mainly using _______ Integration.
1: Horizontal Integration
2: Vertical Integration
A type of product that is usually has less advertising and recognition, but lower price
For example: Cinnamon squares, Krispy Rice
Generic Brand Products
A punishment (usually a fee) for NOT doing what you were supposed to do.
Penalty