23-25

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Author:
craziibabe47
ID:
15682
Filename:
23-25
Updated:
2010-04-22 09:51:34
Tags:
History
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Description:
History
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The flashcards below were created by user craziibabe47 on FreezingBlue Flashcards. What would you like to do?


  1. Private Goods
    goods that, when consumed by one individual, cannot be consumed by another
  2. public goods
    economic goods that are consumed collectively, such as highways and national defense
  3. externality
    the unintended side effect of an action that affects someone not involved in the action
  4. antitrust law
    legislation to precent new monopolies from forming and police those that already exist
  5. merger
    a combination of 2 or more companies to form a single business
  6. natural monopoly
    a market situation in which costs of production are minimized by having a single firm produce the product
  7. recall
    situation in which a company pulls a product off the market or agress to change it to make it safe

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