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soccer11gj English 14 cards

Cards in this deck (14)

1monopsonya market in which there is a single buyer
2market powerthe power of buyers and sellers influences prices
3imperfection competitionmarkets where there is neither perfect competition nor pure monopoly
4price takersthose who sell in competitive markets, they accept whatever the market price happens to be
5price makerssuppliers begin to exercise control over prices, imperfect competition exists.
6monopolistic competitiongas stations, groceries, and shoes are only a few of the goods and services sold under conditions of this
7product differentiationwhatever it is that gives buyers the impression that virtually identical products are different.
8oligopolya market in which a few sellers produce all or most of the supply of a product
9collusionsetting prices and dividing the market among these few firms. agreements to limit competition
10price leadershippractice by which the most powerful company in an industry sets its price, and ever other firm follows. illegal
11monopolya firm that controls the entire supply of a good or service
12patentsgive the inventors of new products the exclusive right to market their inventions or sell the rights to them
13copyrightthese give exclusive rights to authors, musicians, composers, and artists to reproduce and or sell their works.
14public franchiselicenses granted by the governments to firms that allow them to do business within their jurisdiction.