This is a FTC ruling requiring a company to stop an unfair business practices.

This is a market structure with only one seller of a particular products.

This is an unintended side effect that either benefits or harms a third party because of actions by others.

This is the nature and degree of competition among firms operating in the same industry.

This is a monopoly that is based on the absence of the sellers in a certain geographic area.

This is the market that has all the conditions of perfect competition except for identical products.

This is a formal agreement to set prices or to otherwise behave in a cooperative manner.

This can occur when any of the four conditions are significantly altered.

This is real or imagined differences between competing products in the same industry.

This is the exclusive right of authors or artist to publish, sell, or reproduce their work for their lifetime plus 50 years.

The use of advertising, giveaways, or other promotional campaigns to convince buyers that the product is some how better than another brand.

This is a situation in which the average cost of production falls as the firms get larger.

This is legally formed combinations of corporations or companies.

This is characterized by a large number of well informed independent buyers and sellers who exchange identical products.

This is agreeing to charge the same or similar prices, for the product.

This is the practice of charging customers different prices for the same product.

This is harm, cost, or inconvenience suffered by a third party because of actions by others.

These is a benefit received by someone who had nothing to do with activity that generated the benefit.

These are products that are collectively consumed by everyone and whose use by one individual does not diminish the satisfaction or value available to others.

This is a monopoly that is based on ownership or control of a manufacturing method, process or other scientific advantage.

This is a market situation in where the cost of production are minimized by having a single firm produce the product.

This is characterized by a large number of well informed independent buyers and sellers who exchange identical products.

This is an exclusive right to manufacture, use, or sell any new and useful invention for a specified period of time. (Interventions are covered for 20 years).

What are 2 of the 5 conditions for a perfectly competitive market?

What is an example of product differentiation?

What are three classifications for imperfect competition?

What is an example of a natural monopoly?

Is price fixing illegal? if so, why would price fixing be a problem for the economy?

What is an example of a positive externality?

How does an oligopolistic firm maximize profits?