Economics Unit 3 0.0 / 5 ? EconomicsA2/A-levelEdexcel Created by: Harry BrewerCreated on: 16-05-13 12:55 Efficency where price = marginal cost Allocative Efficiency 1 of 11 Efficiency where output is at the bottom of the Average Cost Curve Productive Efficiency 2 of 11 Market structure where there is one seller & many buyers Mononpoly 3 of 11 Market structure where there is one buyer & many sellers Monopsony 4 of 11 Market structure with many buyers and sellers Perfect Competition 5 of 11 Market structure where few firms dominate the market Oligopoly 6 of 11 Market structure simular to perfect competition but goods differentiate Monopolistic competition 7 of 11 Pricing strategy used to prevent firms from joining the market Limit pricing 8 of 11 Pricing strategy used to force firms out of the marktet Destroyer pricing 9 of 11 Pricing strategy based on a mark up Cost plus 10 of 11 Pricing strategy used for luxury goods Premium pricing 11 of 11
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