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econoimc mised market econmy
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Economics
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Last updated 5:30 PM on 1/8/23
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8 Terms
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1
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market
a collection of buyers and sellers
2
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prefect comptition
theoretical, g+s are identical, b+s are plentiful
3
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impfrect competeion
reality, dfierenet g+s
4
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monopoly
one seller controls the market, no comp, like youtube
5
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monoposny
one buyer controls market, one empolyer in town
6
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legal monopoly
santction allowed by gov (dominion power)
7
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oligopoly
market with few major comptertoirs, soda companies
8
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monopolistic
many sellers, like resturants