Econ 7
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| show | A large number of firms all produce the same product and no single seller controls supply or prices
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| show | A product such as milk, that is considered the same no matter who produces or sells it
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| Barriers to entry | show 🗑
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| Imperfect competition | show 🗑
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| show | Start-up costs and technology
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| show | Expenses that a new business must pay before it can begin to produce and sell goods
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| show | A single seller dominates a market
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| Economics of scale | show 🗑
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| show | Market that rums most efficiently when one large firm supplies all of the output
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| show | Created by a government
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| Patent | show 🗑
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| Franchise | show 🗑
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| show | a government issued right to operate a business
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| show | Division of consumers into groups based on how much they will pay for a good
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| show | Ability of a company to control prices and total market output
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| Examples of price discrimination | show 🗑
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| Monopolistic competition | show 🗑
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| Monopolistic competition characteristics | show 🗑
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| Differentiation | show 🗑
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| Nonprice competition | show 🗑
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| Oligopoly | show 🗑
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| show | Series of competitive price cuts that lowers the market price below the cost of production
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| Collusion | show 🗑
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| Price fixing | show 🗑
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| Cartel | show 🗑
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| Predatory pricing | show 🗑
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| Antitrust laws | show 🗑
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| show | Illegal grouping of companies that discourages competition
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| show | When two or more companies join to form a single firm
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| Deregulation | show 🗑
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
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Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
sudokken
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