Economics Chp.9

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Economics Chp.9
2013-09-30 18:20:32
Economics OHS

1st 9 weeks
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  1. Monopoly
    (Types of Market Structures)
    Single supplier of goods and services with no close substances
  2. Oligopoly
    (Types of Market Structures)
    Industry dominated by a few companies who have some control of prices, such as a automotive industry, motorcycles, lawn mowers, ATV's, firearms
  3. Monopolistic Competition 
    (Types of Market Structures)
    • The most common type of structure in the U.S 
    • - Large numbers of suppliers that sell slightly different products with some control over prices 
    • - Use non price competition (differentiation of product) 
    • Ex: Covergirl, Crest, Collgate etc
  4. Antitrust Law 
    (Types of Market Structures)
    Protects companies from unfair trade practices
  5. Horizontal 
    (Types of Merges)
    • Buy another company that is already in your core business 
    • - Bakery buys bakery
  6. Vertical 
    (Types of Merges)
    • Buy a company that is line with total process and sell of products 
    • -paper mill buys forest, ice creamer buys dairy
  7. Conglomerate 
    (Types of Merges)
    • Large corporation that buys companies that may be unrelated 
    • Ex: Yum- KFC, Pizza Hut, Taco Bell, A & W, Long John Silvers 
  8. Copyright
    • Protection for written work, i.e books, articles, songs
    • -protection good for life of author plus 70 years (___ can be bought and sold)
  9. Patient
    • Protection for invention, product, modification 
    • - protection good for 20 years
    • - hard for small company to protect 
    • (can be bought and sold)