Ch. 12

Question 1

Monopoly

Answer 1

in media economics, an organizational structure that occurs when a single firm dominates production and distribution in a particular industry, either nationally or locally.

Question 2

Oligopoly

Answer 2

in media economics, an organizational structure in which a few firms control most of an industry’s production and distribution resources.

Question 3

Limited Competition

Answer 3

in media economics, a market with many producers and sellers but only a few differentiable products within a particular category; sometimes called monopolistic competition.

Question 4

Direct Payment

Answer 4

in media economics, the payment of money, primarily by consumers, for a book, a music CD, a movie, an online computer service, or a cable TV subscription.

Question 5

Indirect Payment

Answer 5

in media economics, the financial support of media products by advertisers, who pay for the quantity or quality of audience members that a particular medium attracts.

Question 6

Economies of Scale

Answer 6

the economic process of increasing production levels so as to reduce the overall cost per unit.

Question 7

Hegemony

Answer 7

the acceptance of the dominant values in a culture by those who are subordinate to those who hold economic and political power.

Question 8

Synergy

Answer 8

in media economics, the promotion and sale of a product (and all its versions) throughout the various subsidiaries of a media conglomerate.

Question 9

Cultural Imperialism

Answer 9

the phenomenon of American media, fashion, and food dominating the global market and shaping the culture sand identities of other nations.