Market Structures - Folsom Cordova Unified School District ...
Market Structures Chapter 7 Perfect Competition Large numbers of buyers and sellers
Buyers and sellers deal in identical products Each buyer and seller acts independently Buyers and sellers are reasonably well-informed about prices and products Buyers and sellers are free to enter and leave the market Imperfect Competition Occurs when one of the five conditions
doesnt exist Business Control on Price <=None====================.Complete => Monopolies Natural Monopoly- exists when a variety of factors make competition unworkable, financially unfeasible or impossible
Geographical Monopoly- When only one business provides products or services to a local area, Technological Monopoly- A business that's first to market a product or service may get a patent or copyright Government Regulation
Prevent excess price Quality of service Monopsony Power Promote competition Natural Monopolies
Market Failures Inadequate competition- When adequate competition does not exist Inadequate information- Buyers and sellers are not well informed Resource Immobility-Resources are not free to move from one industry to another. Public Goods-Public goods are those goods and services provided by the government because a market failed to provide them. Negative externalities- harmful side effect that affects an uninvolved third
party. In most events, it constitutes external cost. Positive Externalities-beneficial side effect that affects an uninvolved third party. Externalities Positive production externality: When a farm's production increases the well-being of others but the farm is not compensated by those others. Example: Beehives of honey producers have a positive impact on pollination
and agricultural output Negative production externality: When a firm's production reduces the well-being of others who are not compensated by the firm. Example: steel plant pollutes a river but plant does not face any pollution regulation Price Controls Price discrimination- pricing strategy that charges
customers different prices for the same product or service. Laws Regulating Business Sherman Act- Passed in 1890, prohibits certain business activities that federal government regulators deem to be anti-competitive, and requires the federal government to investigate and pursue trusts
Laws Regulating Business Clayton Act- Passed in 1914, proscribes certain additional activities that had been discovered to fall outside the scope of the Sherman Act price discrimination between different purchasers, if such discrimination tends to create a monopoly exclusive dealing agreements tying arrangements mergers and acquisitions that substantially reduce market competition
Laws Regulating Business RobinsonPatman Act of 1936 amended the Clayton Act. The amendment proscribed certain anti-competitive practices in which manufacturers engaged in price discrimination against equally-situated distributors. Laws Regulating Business Federal Trade Commission Act of 1914 established the Federal Trade Commission. The Act, outlaws unfair
methods of competition and outlaws unfair acts or practices that affect commerce. Government Enforcement
Federal Trade Commission (FTC) Food & Drug Administration (FDA) Federal Communications Commission (FCC) Equal Employment Opportunity Commission (EEOC) Occupational Safety & Health Administration (OSHA) Government Enforcement
Securities & Exchange Commission (SEC) Environmental Protection Agency (EPA) Federal Aviation Administration (FAA) National Labor Relations Board (NLRB)
Describe ways that they young tiger cub and its parent are alike and different. Inherited Traits Offspring inherit certain traits from their parents. An inherited trait is a characteristic that is passed from parents to offspring.
6. Define glasnost and perestrokia? 7. Why were they implemented? 8. The Polish Solidarity movement had the support of what three groups? 9. What was the initial reason for the strike? 10. Define grassroots movement.
1- The Patient Who RejectsHelp. This group of patients has been describedas. ManipulativeHelp-Rejectors'. They will return again and again to the doctor to complain that treatment does not work and tend to playthe
The Greek / Roman Gods & Goddesses ... light, archery, poetry, music, and healing Sun god in some myths (Helios is the sun god in other myths) Son of Zeus and Leto Wolves, dolphins, and crows are sacred to him...
skill mix of professionals required to meet these needs . resources required to meet the needs and/or choices of people in that group. Input offered. Description of the . THRIVE-groups. THRIVE Elaborated, Second Edition (Wolpert .
Myocardial Infarction (heart attack) Ischemia: tissue that has been starved of oxygen, but had not yet died It is possible to reverse ischemia with clot dissolving drugs Contains an enzyme that breaks down the clot What is the difference between...
phase II study sponsored by the national eye institute, showed no benefit in reducing retinal thickness by adding peribulbar steroids to focal laser treatment for eyes with mild DME and good visual acuity
4th Grade Ecosystems Vocabulary Mrs. Thornburg's version Vocabulary in 4th Grade Ecosystems Population Food Web Ecosystem Environment Habitat Community Food Chain Decomposer Predator Energy Pyramid Niche Producer Prey Consumer What do we call an environment that meets the needs of...
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