3.3- Market Structure: Oligopoly 0.0 / 5 ? EconomicsMicroeconomics- Theme 3 DefinitionsA2/A-levelEdexcel Created by: 13clarkenCreated on: 11-01-20 18:37 79810534126 Across 1. An ... is a market with a few sellers, in which each firm must take account of the behaviour and likely behaviour of rival firms in the industry (9) 5. ... concentration ratio is a measure of the market share of the largest n-firms in an industry (1, 4) 6. A ... is a market in which there is a single buyer of a good, service or factor of production (9) 10. A .. is an agreement between firms on price and output with the intention of maximising their joint profits (6) Down 2. ... is a method of modelling the strategic interaction between firms in an oligopoly (4, 6) 3. ... competition is a market that shares some characteristics of monopoly and some of perfect competition (12) 4. An ... is a market in which there are a few buyers of a good, service or factor of production (10) 7. ... is an example of game theory with a range of applications in oligopoly theory (9, 7) 8. ... is a situation occurring when firms refrain from competing on price, but without communication of formal agreement between them (5, 9) 9. ... is a situation in which firms openly work together to agree on prices or market shares (5, 9)
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