Economics - Market Dominance - Flashcards in GCSE Economics

1. Factors that obstruct or restrict entry to an industry or market (8, 2, 5)
5. Firm or one of a small number of firms that controls a significant share of the market which it operates (8)
7. When one producer controls supply of a good or service and where entry of new producers is prevented or highly restricted (8, 4)
8. The voluntary combining of two or more firms into one (6)

1. Name, term, design, symbol or any other feature that identifies one seller's product distinct from other sellers (5)
2. Where one firm gains control of another by purchasing 51% or more of its shares. This may be friendly or hostile. (8)
3. Rules set by the government or their agencies that seek to control the operation of firms who may have monopoly power in their own industry (10)
6. The competition commission can investigate a merger to see if it is in the public interest. If the commission thinks the new firm will have too high a market power and will act against public interest, the merger wont be allowed (6, 6)
9. Prices are deliberately set very low by a dominant competitor in the market in order to restrict or prevent competition. The prices may even be free or lead to losses by the dominant company. (9, 7)
10. The percentage of all sales within a market which are held by one brand or company (6, 5)

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