Chapter 9- Competition & monopolies

legal combination of two or more companies that become one corporation

• patent

• merger

• monopoly

• oligopoly

large corporation made up of smaller corporations dealing in unrelated businesses

• conglomerate

• product differentiation

• deregulation

• monopoly

obstacles to competition that prevent others from entering a market

• economies of scale

• perfect competition

• barriers to entry

• cartel

government protection that gives an inventor the exclusive rights to make, use, or sell an invention for a specific number of years

• patent

• copyright

• conglomerate

• merger

market situation in which there are numerous buyers and sellers, and no single buyer or seller can affect price

• Monopoly

• Oligopoly

• merger

• perfect competition

market situation in which a single supplier makes up an entire industry

• monopoly

• oligopoly

• perfect competition

industry dominated by a few suppliers who exercise some control over price

• monopoly

• oligopoly

• perfect competition

arrangement among groups of industrial businesses to reduce international competition by controlling price, production, and distribution of goods

• antitrust

• cartel

• deregulation

• differentiation

federal and state laws passed to prevent new monopolies from forming and to break up those that already exist

• economies of scale

• market structure

• antitrust legislation

• cartel

An example of antitrust legislation is the

• Americans with Disabilities Act.

• Clayton Act.

• Wade Act.

• Truth in Lending Act.