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24 Cards in this Set

  • Front
  • Back
market structure
the extent in which competition prevails in a particular structure
perfect competition
numerous buyers and sellers no price control
monopoly
one company in control with complete control over the price
barriers to entry
obsicals that prevent competition from entering
economies of scale
low production costs resulting from the large size of output
patent
invention
copyright
literature, songs, creative works
oliopoly
a few companies in control
product differentiation
differences in quality and features
cartel
arrangement amoung groups of industrial buisnessesto reduce the international competition by controlling the price, production and distribution of goods
monopolistic competition
many companies, similar or slightly different products
interlocking directorate
a board of directors, many of which also serve on competing corporation boards
anitrust legislation
laws to prevent monopolies and stop them
merger
combined company- one company buys more than 1/2 the stock
conglamerate
large coroperation made up of smaller coroporations
derefulation
reduction of the government regulation and control
FTC
Federal Trade Commission
-regulates product warrenties, unfair methods of competitionin interstate commerse and fraud in advertising
FDA
Food and Drug Administration
-regulates purity and safty of foods, drugs and cosmetics
FCC
Federal Communication Commitions
-regulates telephone, television, radio, and cable
SEC
Securities and Exchange Commissions
-sale of stocks, bonds and inventions
EEOC
Equal Employment Oppertunity Commision
-reduce discrimination in the work place
OSHA
Occupational Safty and Heath Administration
-workplace enviroment, heathy standards
EPA
Enviromental Protection Agency
-standards for air, water and toxic waste
NRC
Nucular Regulatory Commisson
-nuclular power industry