Miscellaneous Quiz / Econ - Market Structures

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Can you name the economics terms??

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TermAnswer
Under ____________ no seller sells a product above the prevailing market price
market structure that lacks one or more of the conditions of perfect competition
Externalities, resource immobility, inadequate information, and inadequate competition are examples of ______.
When a major car company lowers its prices, other car makers will probably ________ their prices.
When the government passes an ant-trust law, they are trying to promote ______.
unwanted harm, cost, or inconvenience suffered by a third party because of the actions of others
a monopoly that is based on ownership or control of a manufacturing method, process, or scientific advance
what would changing the color or size of packaging a product represent?
this market structure has extensive influence over price
the government is involved in the economy to promote and encourage ________
the government is involved in the economy to prevent _________________ because they can hinder trade and competition.
unintended side effect that either benefits or harms a third party not involved in the activitiy
this outlawed restraints and monopolies that hindered trade
mergers and acquisitions might result in inadequate _____________.
situation in which average cost of production falls as the firm gets larger
this forbade rebates and discounts to large buyers unless available to all buyers
this outlawed price discrimination
the government is involved in the economy to ________ industries in which a monopoly is in the public interest
requirement that businesses reveal information to the public
Public goods are usually provided by the ________, not the market.
TermAnswer
this market structure is the 2nd most competitive
practice of charging customers different prices for the same product
formal agreement to set prices or to behave in a cooperative manner
this market structure has the most competition
market structure that is the least competitive
real or imagined differences between competing products
in this market structure, there is only one firm in the market
Theoretical situation in which well-informed, independent buyers and sellers exchange identical products
agreeing to charge the same or similar prices
market structure in which a few very large sellers dominate the industry
belief that government should not interfere with commerce or trade
market situation in which costs are minimized because a single firm produces the product
products that are collectively consumed by everyone
When the government taxing firms for polluting, they are trying to regulate __________.
receiving a drain on your lawn from a neighbor's sprinkler system is an example of a _________.
in this market structure, firms have no influence over price, there are many firms, and it is easy to enter the market
legally formed combination of corporations or companies
this market structure is difficult, but not impossible to enter
exclusive right to manufacture, use, or sell any new and useful machine
exclusive right of authors and artists to publish, sell, or reproduce their work

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Created Oct 31, 2011ReportNominate
Tags:econ, market, structure

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