The Good That Competion Does
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| This is a group of firms that produce similar products or provide similar services. | show 🗑
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| show | Perfect Competition
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| This is a firm that has no real control over the price it receives for its products | show 🗑
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| show | Monopoly
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| This is a type of monopoly that is protected by the government to encourage production. Examples of this is patents, trademarks, and copyrights | show 🗑
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| This is a type of monopoly that occurs when a single firm can satisfy the demand for a good more efficiently than could multiple firms. Examples of this is electric companies, the water company and the distributer of natural gas | show 🗑
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| show | Monopolistic Competition
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| show | Oligopoly
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| This is a situation in which firms secretly agree on how much to produce, where to sell, and what prices to charge. This often occurs in oligopolistic market. | show 🗑
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| show | Antitrust laws
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| show | Sherman Act
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| This is a collusion of business which join together to restrict or eliminate competition | show 🗑
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| This Antitrust law was passed in 1914 to make certain businesses practices that were not specifically mentioned in previous laws illegal. | show 🗑
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| This is a binding agreement that obliges a consumer who wishes to buy a certain product from a business to purchase other types of products from that same firm. | show 🗑
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| show | Price discrimination
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| show | Federal Trade Commission
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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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Created by:
Leslie Spark
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