4B - Should markets be regulated? 3.0 / 5 based on 1 rating ? Economics & Business StudiesCompetitive MarketsA2/A-levelEdexcel Created by: Jordan CellaCreated on: 07-02-13 10:09 Ability of a producer to exert some level of control over market Market Power 1 of 18 Consumer has control Consumer Sovereignty 2 of 18 The welfare of well being of the public in general, as opposed to selfish interests of individuals, groups and businesses Public Interest 3 of 18 Agreeing with competing producers to avoid any action that would make the competition stiffer Collusion 4 of 18 An agreement not to compete between two or more producers Cartel 5 of 18 Firms avoid price cutting strategies to guarantee high profits Tacit Collusion 6 of 18 Substantial price cuts as each competitor tries to increase market share Price War 7 of 18 Restricting the number of customers and outlets that will supply Preferential Supply 8 of 18 Commercial fraud, where a winner is already decided Bid Rigging 9 of 18 Divide market up with a dominant supplier, tends to be geographical Market Sharing Agreement 10 of 18 Fix, peg or stabilize prices Price Fixing 11 of 18 fixed to disadvantage customers or suppliers Discounts Terms 12 of 18 Any action that a business may take to limit competition Restrictive Prices 13 of 18 Not to stock a competitors product Forcing Retailers 14 of 18 Retailers who discount prices Refusing to Supply 15 of 18 Occurs when a supplier requires or induces a customer to deal only, or mostly in certain products Exclusive Dealing 16 of 18 Where retailers are forced to stock the full range of the suppliers goods rather than just the best selling ones Tie in Sales 17 of 18 Suppliers force retailers not to discount prices Resale Price Maintenance 18 of 18
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