Quizlet
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| 1-1 of 1Monopolistic competition flashcard sets | |||
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| # | Title | Terms | Date |
| 1 | 7.2 Monopolistic Competition and Oligopolyby mjdolenko | 3 terms | October 11, 2009 |
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| monopolistic competition definitions | |||
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| # | Definition | Sets | |
| 1 | a market structure in which many companies sell products that are similar but not identical | 12 sets | |
| 2 | market or industry characterized by numerous buyers and relatively numerous sellers trying to differentiate their products from those of competitors | 7 sets | |
| 3 | a market structure in which many firms sell products that are similar but not identical | 6 sets | |
| 4 | common market from where there are many producers and consumers, consumers perceive that there are non-price differences in the products, few barriers to entry and exit, and producers have a degree of control over price. markets for restaurants, cereal, shoes, clothing, and services in large cities. | 4 sets | |
| 5 | many sellers and slightly differentiated products | 3 sets | |
| 6 | the market situation in which a large number of sellers produce products that are very similar but that are perceived by buyers as different | 3 sets | |
| 7 | market structure of an industry in which there are many firms and freedom of entry and exit but in which each firm has a product somewhat differentiated from the others, giving it some control over its price | 3 sets | |
| 8 | many buyers and sellers* minot barriers to entry* differentiated products* non-price competition is extensive* largest market competition models(towing plumbing book ends) | 2 sets | |
| 9 | many sellers | 2 sets | |
| 10 | the market structure that has all the conditions of perfect competition except for identical products. | 2 sets | |
| 11 | a market structure in which a large number of firms sell slightly differentiated products that are reasonably close substitutes for one another | 2 sets | |
| 12 | a term often used by economists to describe markets characterized by a large number of sellers that supply differentiated products to a market with low barriers to entry. | 2 sets | |
| 13 | a market structure in which barriers to entry are low and many firms compete by selling similar, but not identical products | 2 sets | |
| 14 | many companies making similar products with few barriers to entry and some control over price | 1 set | |
| 15 | a market structure with many competitors selling different products. barriers to enter are very low | 1 set | |
| 16 | a market in which 1) there are many buyers and sellers 2)each firm produces a differentiated product and 3)there is free entry and exit. | 1 set | |
| 17 | a market structure in which (1) there are many buyers and many sellers, (2) sellers produce and sell slightly differentiated products, and (3) there is easy entry into and easy exit from the market. | 1 set | |
| 18 | the market structure that exists when there are fewer businesses than in a pure-competition environment and the differences among the goods they sell are small | 1 set | |
| 19 | just like perfect competiton but concentration measures are close to zero and each firm produces a product that is slightly different from the products produced by other firms. | 1 set | |
| 20 | several different choices, and each one is slightly different | 1 set | |
| 21 | a situation in a market where there are many firms producing similar but not identical goods | 1 set | |
| 22 | (many - but diffrent) several diffrent choices, and each one is slighty diffrent. ex burgen king vs. mc donnals, cars | 1 set | |
| 23 | a market structure in which many firms sell products that are similar but not practical | 1 set | |
| 24 | market where many firms selling similar but not identical products and have small ability to affect price | 1 set | |
| 25 | products and marketing mixes not exactly the same --> pricing competition exists | 1 set | |
| 26 | a market structure characterized by a few small firms producing a differentiated product with easy entry into the market | 1 set | |
| 27 | similar to perfect competition - goods in this market system, however, are slightly different, so marketing is critical | 1 set | |
| 28 | a market structute in which many ferms offer similar, but not identical products | 1 set | |
| 29 | characterized by a relatively large number of sellers producing differentiated products | 1 set | |
| 30 | a large number of firms, differentiated product, some control over price, easy entry, emphasis on brand name advertising, ex: pepsi, coke | 1 set | |
| 31 | industry that is made up of a fairly large number of firms with slightly different products and might or might not have barriers of entry | 1 set | |
| 32 | many sellers offer similar products but differentiated (ie. athletic shoes) | 1 set | |
| 33 | market structure in which there are many small firms that sell products that are similar but no identical, a differentiated product,easy entry and exit, restrictions on info | 1 set | |
| 34 | numerous sellers trying to differentiate their products from competitors as to have controll over their price; many sellers; can leave or enter the market easily large number of buyers relitive to sellers applies potential limits to prices | 1 set | |
| 35 | many sellers and slightly differentiated products. | 1 set | |
| 36 | the market structure characterized by many small sellers who produce differentiated products. the firm has some degree of control over product price | 1 set | |
| 37 | a market in which many producers offer a similar-but not identical-good or service. | 1 set | |
| 38 | the market structure that has all conditions of perfect competition expect for identical products | 1 set | |
| 39 | a market structure, like that for retailing, in which large numbers of buyers and sellers exchange relatively well-differentiated (heterogeneous) products, so each participant has some control over price. | 1 set | |
| 40 | - a lot of firms are monopolistic, sale different products, price maker, independent decisions, relatively free entry | 1 set | |