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5 Written questions

5 Matching questions

  1. Merger
  2. Price Discrimination
  3. Concentration Ratio
  4. Horizontal Merger
  5. Conglomerate Merger
  1. a A combination of two or more companies into one company.
  2. b A measure of market power - the percentage of all sales that is accounted for by the four or eight largest firms in the market
  3. c Offering specific goods or services at different prices to different segments of the market. Example: First class versus business class on airlines.
  4. d A merger of firms in unrelated industries. Example: If Purina Dow Chow merged with Pampers Diaper Company.
  5. e A merger between two firms in the same industry. Example: 2004 K-Mart merged with Sears

5 Multiple choice questions

  1. A particular "game" between two captured prisoners that illustrates why cooperation is difficult to maintain even when it is mutually beneficial to do so.
  2. A group of firms that collude to limit competition in a market by negotiating and accepting agreed-upon prices and market shares.
  3. Any combination of strategies in which each players' strategy is his or her best choice, given the other players' strategies.
  4. The situation that exists when two or more groups need each other and must depend on each other to accomplish a goal that is important to each of them
  5. A business arrangement in which two or more firms undertake a specific economic activity together. Once the activity is over, the firms go their own way.

5 True/False questions

  1. Brand MultiplicationVariations on one good so that a firm can increase market share.

          

  2. GodfatherThe dominate firm in the oligopoly, whose pricing decisions are tacitly followed. The Godfather is the price leader.

          

  3. Tit-for-Tat StrategyA pricing strategy in game theory in which firms continue to match each others' pricing strategy.

          

  4. Balanced OligopolyAn oligopoly in which the sales of the leading (top four) firms are distributed unevenly among them.

          

  5. Game TheoryThe dominate firm in the oligopoly, whose pricing decisions are tacitly followed. The Godfather is the price leader.

          

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