Markets

HideShow resource information
  • Created by: amyreed
  • Created on: 08-06-15 16:47
Competitive Market
A market situation in which there are a large number of buyers (demand) and sellers (supply).
1 of 9
Monopoly Power
When a firm has more than 25% of the market share.
2 of 9
Monopoly
Only one firm selling in a market.
3 of 9
Implications for busineses
Without competitive markets it will most likely fail. Especially if it doesn't meet demand and supply. Can thrive buy supplying goods and services efficiently and make profits.
4 of 9
Reasons for Government Promotion in competition
Firms can fail to keep up with tastes or changes in technology; Land grabbing; Firms may exploit workers with low pay; Increase prices for consumers; Predatory pricing.
5 of 9
Market
Buyers and sellers meeting to exchange goods and services
6 of 9
Achieving monopoly power
Merger and Takeover; Statutory monopoly; Internal expansion; Branding; Cost barriers
7 of 9
Good consequences of monopoly power
Research and development; International competitiveness; Exploitation of economies of scale
8 of 9
Bad consequences of monopoly power
Poor quality and high prices
9 of 9

Other cards in this set

Card 2

Front

When a firm has more than 25% of the market share.

Back

Monopoly Power

Card 3

Front

Only one firm selling in a market.

Back

Preview of the back of card 3

Card 4

Front

Without competitive markets it will most likely fail. Especially if it doesn't meet demand and supply. Can thrive buy supplying goods and services efficiently and make profits.

Back

Preview of the back of card 4

Card 5

Front

Firms can fail to keep up with tastes or changes in technology; Land grabbing; Firms may exploit workers with low pay; Increase prices for consumers; Predatory pricing.

Back

Preview of the back of card 5
View more cards

Comments

No comments have yet been made

Similar Economics resources:

See all Economics resources »See all Competitive markets resources »