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Monopolies and Oligopolies

14 cards·by CMossing168
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Pure Monopoly
a market in which one company has control over the entire market for a product, usually because of a barrier to entry
Government Monopoly
A forced form of market domination whereby a national, regional, or local administration, agency, or corporation is the provider of a produ
Horizontal Merger
A merger occurring between two companies in the same industry
Conglomerate
a merger between two firms that are involved in totally unrelated business activites
perfect competition
all firms: sell an identical product, are price takers, have a small market share, buyers know the nature of the product being sold, industr
Geographic Monopoly
a condition that exists in a local area or region wherein one company is the sole provider of a good or service
Trust
a legal arrangement in which an individual gives fiduciary control of property to a person or institution for the benefit of the beneficiari
Monopolistic
a market structure in which several or many sellers each produce similar, but slightly different products
Patent
the exclusive right, granted by the government, to make use of an invention or process for a specific period of time
Natural Monopoly
an industry where the most efficient production is through a monopoly
Vertical Merger
A merger between two companies producing different goods or services for one specific finished product.
Barries Of Entry
circumstances particular to a given industry to create disadvantages for new competitors attempting to enter the market
Cartel
a group of companies or countries which collectively attempt to affect market prices by controlling production and marketing
Oligopolistic
the market condition that exists when there are few sellers, as a result of which they can greatly influence prices and other market factors