Term
| the competitiveness within an industry |
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Definition
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| a market structure in which a large number of firms all produce the same product |
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| any factor that makes is difficult for a new firm to enter a market |
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| the expenses a firm must pay before it can begin to produce and sell goods |
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Term
| a market that runs most efficiently when one large firm supplies all of the output |
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Term
| a market dominated by a single seller |
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Term
| a monopoly created by the government |
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Term
| a license that gives the inventor of a new product the exclusive right to sell it for a certain period of time |
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Term
| the right to sell a good or service within an exclusive market |
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Definition
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Term
| a market structure in which many companies sell products that are similar but not identical |
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Term
| making a product different from other similar products |
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Term
| a way to attract customers through style, service, or location, but not a lower price |
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Term
| a market structure in which a few large firms dominate a market |
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Definition
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Term
| an agreement among firms to divide the market, set prices, or limit production |
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| an agreement among firms to charge one price for the same good |
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Definition
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Term
| a formal organization of producers that agree to coordinate prices and production |
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Definition
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