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Economics / Government > Economics Chapter 9 > Flashcards

Economics Chapter 9 Flashcards

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0
Q

Businesses that try to control a large portion of the market

A

Cartel

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1
Q

A market that has so many sellers they all make up a portion of total sales

A

Perfect competition

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2
Q

Buy-out of a company in the same business

A

Horizontal merger

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3
Q

Market with large number of sellers but slightly different products

A

Monopolistic competition

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4
Q

Any individual group or buyer sells so much of one thing to affect price

A

Imperfect competition

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5
Q

Reduction of government regulation and control over businesses

A

Deregulation

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6
Q

Differences in products to try and make one stand out to costumers

A

Product differentiation

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7
Q

When one firm forces it’s competitors out of business

A

Natural monopoly

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8
Q

One seller for a good

A

Monopoly

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9
Q

Few suppliers, some control over price

A

Oligopoly

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10
Q

Laws passed by government to prevent monopolies

A

Anti-trust legislation

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11
Q

Buying out of unrelated businesses

A

Conglomerate merger

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12
Q

Merge that is between a company and a product they use

A

Vertical merger

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13
Q

Government granted right to make an invention for a certain number of years

A

Patent

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14
Q

When a company buys half the stock of another company

A

Merger

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15
Q

Obstacles to competition to prevent others from entering the market

A

Barriers to entry

16
Q

When a seller develops a product or production for which it obtains a patent

A

Technological monopoly

17
Q

When an individual seller has control over a market because of location

A

Geographical monopoly

18
Q

Majority of members of the board of directors of competing corporations are the same

A

Interlocking directorate

19
Q

Market situations created uh the government and protected by the barriers to entry

A

Government monopoly

20
Q

Large corporation make up of smaller corporations dealing in unrelated industries

A

Conglomerate

21
Q

Federal regulation and control over business of formerly heavily regulated industries

A

Deregulation

Economics / Government (13 decks)

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