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Microeconomics > Market Structures > Flashcards

Market Structures Flashcards

1
Q

What is the diagram for economies of scale?

A
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2
Q

What is the diagram for productive efficiency?

A
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3
Q

What is the diagram for perfect competition?

A
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4
Q

What is the diagram for monopolistic competition?

A
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5
Q

What is the diagram for a monopoly?

A
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6
Q

What is the diagram for price discrimination?

A
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7
Q

What is the diagram for a natural monopoly?

A
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8
Q

What is the diagram for a kinked demand curve?

A
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9
Q

What is the diagram for consumer and producer surplus?

A
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10
Q

What is the diagram for dynamic efficiency?

A
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11
Q

What is static efficiency?

A

the measure of how well existing resources are allocated at a given point in time

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12
Q

What is dynamic efficiency?

A

the measure of the productive efficiency over a given period of time

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13
Q

What are the types of innovation?

A

disruptive innovation, incremental innovation, radical innovation, sustaining innovation

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14
Q

What is creative destruction?

A

the process of economic change that results from the introduction of new technologies or products that render old ones obsolete

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15
Q

What is accounting profit?

A

total revenue - explicit costs

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16
Q

What is economic profit?

A

total revenue - total costs

17
Q

What are the different types of business objectives?

A

financial, customer-centric, social, internal, global

Microeconomics (2 decks)

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