Save
Busy. Please wait.
or

show password
Forgot Password?

Don't have an account?  Sign up 
or

Username is available taken
show password

why


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
We do not share your email address with others. It is only used to allow you to reset your password. For details read our Privacy Policy and Terms of Service.


Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't know (0)
Remaining cards (0)
Know (0)
0:00
share
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Econ

Chapter 7

TermDefinition
Pure Competition Competition in which there are many buyers and sellers there is a standardized product that buyers and sellers are well informed . There is easy entry into and out of the market and there is no control over prices
Standardized product A product group in which competeing products are nearly the same
Monoploy A market in which there is no competition. One company controls the market.
Pure monopoly A monopoly in which there is only one seller and no substitutes for a product or service.Getting into and out of the market is difficult and there is almost complete control over prices.
Natural monopoly A monopoly that is allowed to exist because competition is not needed
Patent Right of sole ownership of an invention of an item
Copyright The sole right given to writers and artisits to sell or make copies of their works
Oligopoly A type of market where there only are a few sellers. There is a nearly standardized product
Price War A series of price cuts outprice below the competition
Collusion A secret agreement between competing firms who cooperate with each other
Price fixing An agreement to sell products for the same or similar prices
monopolistic competition A type of market where there are many buyers and sellers. There is some product variation and entry into the market is easy.
Differentiate A way a company attracts buyers by providing services to those who have bought products
Warranty A promise to fix something if it does not work
Brand Name The name of a product used to identify the product quickly,often thru the use of a logo
Logo A symbol that everyone knows which is used to identify a product
Trust When a few giant companies control important industries
Reform Change to make things work better
Majority The quality or state of being greater
Price discrimination The practice of selling different buyers the same product for different prices
Merger When one business buys another
Created by: mtrampf
 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!

"Know" box contains:
Time elapsed:
Retries:
restart all cards