Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
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 |
