Econ Vocab 3
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| show | Interaction of people in buisness
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| Cicular Flow Diagram | show 🗑
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| Labor | show 🗑
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| show | the amount of goods available
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| Demand | show 🗑
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| Law of Demand | show 🗑
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| show | The idea that producers offer more of a good as its price increases and less as its price falls
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| Factors that effect supply | show 🗑
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| Price Floor | show 🗑
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| Price Ceiling | show 🗑
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| Factors that effect demand | show 🗑
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| show | *
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| Inelastic | show 🗑
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| show | a business owned and run by one person
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| Partnership | show 🗑
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| Corporation | show 🗑
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| show | [ex.POWER COMPANY]
* one seller
* no close substitutes for product
* impossible entry
* price-setting power
* no non-price competition
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| show | *
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| show | [ex. CAR MANUFACTURE]
* few sellers
* differentiated or homogenous product
* difficult entry
* considerable price-setting power
* considerable non-price competition
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| show | [ex. GAS STATION]
* many sellers
* differentiated product
* relatively easy-entry
* some price setting power
* considerable non-price competition
* usues a great deal of advertising (giveaways and prizes)
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| Perfect competition | show 🗑
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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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