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ECON_4.1 - 4.4

Full Name:
Period:
Horizontales
Gives a company exclusive rights to sell a new good or service for a specific period of time.
A contract issued by a local authority that gives a single firm the right to sell its goods within an exclusive market.
When a company joins with another company or companies to form a single firm.
A market that runs most efficiently when one large firm provides all of the output.
A market dominated by a few large, profitable firms.
Competition through ways other than lower prices.
The costs a business must pay before they can begin to provide goods and services.
Factors that make it difficult for new businesses to enter the market.
Grants firms the right to operate a business, especially where scarce resources are involved.
When barriers prevent firms from entering a market that has a single supplier.
The ability to control prices and total market output.
Verticales
Enables a monopolistically competitive seller to profit from the differences between his or her products and competitors' products.
Collaborating with other firms to set market prices below their costs for the short term to drive competitors out of business.
Characteristics that cause a producer's average cost to drop as production rises.
A product that is considered the same regardless of who makes or sells it.
When government no longer decides what role each company can play in a market and how much it can charge its customers.
Simplest form of competition where there are identical goods available on the market and many sellers to satisfy demand.
Government policies that keep firms from controlling the price and supply of important goods.
Business combination, similar to a cartel.
Refers to an agreement among members of an oligopoly to illegally set prices and production levels.