Economics Unit 3

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

Other cards in this set

Card 2

Front

Efficiency where output is at the bottom of the Average Cost Curve

Back

Productive Efficiency

Card 3

Front

Market structure where there is one seller & many buyers

Back

Preview of the front of card 3

Card 4

Front

Market structure where there is one buyer & many sellers

Back

Preview of the front of card 4

Card 5

Front

Market structure with many buyers and sellers

Back

Preview of the front of card 5
View more cards

Comments

No comments have yet been made

Similar Economics resources:

See all Economics resources »