Quizlet
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| 1-3 of 3Monopolistic competition flashcard sets | |||
|---|---|---|---|
| # | Title | Terms | Date |
| 1 | Chapter 13 Monopolistic Competition and Oligopolyby ksinger1 | 9 terms | November 20, 2009 |
| 2 | Micro Ch. 13: Oligopoly and Monopolistic Competitionby nezzytoe91 | 19 terms | November 13, 2009 |
| 3 | 7.2 Monopolistic Competition and Oligopolyby mjdolenko | 3 terms | October 11, 2009 |
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| monopolistic competition definitions | |||
|---|---|---|---|
| # | Definition | Sets | |
| 1 | a market structure in which many companies sell products that are similar but not identical | 15 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 | 7 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 | 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 | |
| 6 | many sellers and slightly differentiated products | 3 sets | |
| 7 | 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. | 3 sets | |
| 8 | 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 | |
| 9 | a market structure in which a large number of firms sell slightly differentiated products that are reasonably close substitutes for one another | 2 sets | |
| 10 | many sellers | 2 sets | |
| 11 | the market structure that has all the conditions of perfect competition except for identical products. | 2 sets | |
| 12 | 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 | |
| 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 | market structure which has all conditions of a pure competition, except for identical products | 1 set | |
| 15 | many sellers each offer a slightly differentiated product having a reltively small market share ex. clothing industry | 1 set | |
| 16 | many competitors selling differentiated products, barries to entry low | 1 set | |
| 17 | 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 | |
| 18 | a market structure in which many firms sell a differentiated product, into which entry is relatively easy, in which the firm has some control over its product price, and in which there is considerable nonprice competition | 1 set | |
| 19 | a market structure with low entry barriers and many firms selling products differentiated enough that each firm's demand curve slopes downward | 1 set | |
| 20 | a market structure with many competitors selling different products. barriers to enter are very low | 1 set | |
| 21 | the degree of competition in which a large number of sellers produce very similar products that buyers nevertheless perceive as different | 1 set | |
| 22 | a market structure with many firms that offer similar but not identical products can also be called imperfect competition | 1 set | |
| 23 | the market structure that has all conditions of perfect competition expect for identical products | 1 set | |
| 24 | a market structure characterized by a few small firms producing a differentiated product with easy entry into the market | 1 set | |
| 25 | several different choices, and each one is slightly different | 1 set | |
| 26 | 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 | |
| 27 | a market in which many producers offer a similar-but not identical-good or service. | 1 set | |
| 28 | a large number of firms, differentiated product, some control over price, easy entry, emphasis on brand name advertising, ex: pepsi, coke | 1 set | |
| 29 | market where many firms selling similar but not identical products and have small ability to affect price | 1 set | |
| 30 | the market structure characterized by many small sellers who produce differentiated products. the firm has some degree of control over product price | 1 set | |
| 31 | many sellers and slightly differentiated products. | 1 set | |
| 32 | 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 | |
| 33 | many companies making similar products with few barriers to entry and some control over price | 1 set | |
| 34 | 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 | |
| 35 | (many - but diffrent) several diffrent choices, and each one is slighty diffrent. ex burgen king vs. mc donnals, cars | 1 set | |
| 36 | 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 | |
| 37 | a market structure in which many firms sell products that are similar but not practical | 1 set | |
| 38 | 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 | |
| 39 | large number of firms that compete by making similar but slightly different prices (product differentiation), ease of entry and exit | 1 set | |
| 40 | a situation in a market where there are many firms producing similar but not identical goods | 1 set | |