Econ 2b - Mark Struc
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| Conglomerate | Firm that has at least 4 businesses, making unrelated products with lots of diversification
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| Pure Competition | Market where many buyers and sellers are competing over identical products
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| Monopolistic Competition | Market where many buyers and sellers are competing over products that are slightly different
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| Oligopoly | Market where a few large sellers dominate the industry with some differentiation among their products
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| Monopoly | Market where one firm controls an entire industry
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| Product Differentiation | Process used by businesses to distinguish a product or service from other similar ones available in the market
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| Multinational | Company that has business operations in at least one country other than its home country
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| Non-price Competition | Producers sell goods or services at the same price but compete in other measures like advertising, sales promotion campaign, or improving the quality
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| Brand Loyalty | Repeat purchases of a company based on the perception of higher quality and better service than any competitor
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