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Economics

Monopoly's and Antitrut Laws

QuestionAnswer
Monopoly when a single company has exclusive control over a market for a specific good or service, eliminating competition
Oligopoly a state of limited competition, in which a market is shared by a small number of producers or sellers. EX: Xbox vs Playstation
Monopolistic Competition a market structure where many firms sell similar but not identical products, falling between a monopoly and perfect competition
Horizontal Merger when two or more companies in the same industry and at the same stage of production combine to form a single entity
Vertical Merger the combination of two companies that operate at different stages of the same supply chain
Conglomerate a large corporation that is made up of many different and often unrelated businesses.
Antitrust laws Antitrust laws are statutes designed to protect free and open competition in markets, preventing monopolies and promoting consumer welfare.
Federal Trade Commission (FTC) an independent U.S. government agency that protects consumers from fraud, deception, and unfair business practices, and promotes fair competition in the marketplace
Created by: EPICALIYAH
 

 



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