S&D #31 : Monopoly TEST & CW DUE TUES!. Monopoly 1.1 Firm / Supplier 2.No close substitutes 3.VERY high barriers of entry 4.Control price *Rare! Anything.

Slides:

Advertisements

Similar presentations

Ch. 7. The factors that make it difficult to enter a market will determine the type of market structure Start-Up Costs- Technology-

Advertisements

MONOPOLY By LISA BRENNAN.  A monopoly is an industry in which there is only one producer of the product What is a monopoly?

Monopoly A monopoly is the sole supplier of a product with no close substitutes The most important characteristic of a monopolized market is barriers.

CHAPTER 7 Market Structure

Ch. 12: Monopoly Causes of monopoly

CONTEMPORARY ECONOMICS

Chapter 8. Monopoly How? Firm behavior Monopoly vs. Competition Price Discrimination Policy How? Firm behavior Monopoly vs. Competition Price Discrimination.

Chapter 15-1 The market structure of Monopoly

LEQ: HOW DOES COMPETITION EFFECT WHAT IS PRODUCED IN THE MARKETPLACE? KEY TERMS: MONOPOLY MARKET STRUCTURE PERFECT COMPETITION PATENT COPYRIGHT CARTEL.

The Impact of Monopoly.

Chapter 7 market structure

Demand and Supply. Main idea: Demand includes only those people who are willing and able to buy.

Oligopolies Oligopoly– A market structure in which a few large sellers (companies) control most of the production of a good or service. Exists when: 1.Only.

Market Structures How does competition affect your choices?

Ch. 7: Market Structures.

Marketing Market type.

Ch. 7 section 1 Perfect Competition & Monopoly MARKET STRUCTURES, Important features of a market, including the number of buyers and sellers, product uniformity.

Monopoly. Monopoly Monopoly is when the market is dominated by a single seller Monopoly is when the market is dominated by a single seller –They can take.

Economics Chapter 9 Competition and Monopolies. Perfect Competition: Section 1 Market Structure- the amount of competition they face. Market Structure-

Competition and Monopolies.  Businesses are categorized by market structure, otherwise known as the amount of competition they face in the market.

Mr. Weiss Unit 3 Vocabulary Words 1. law of demand; 2. law of diminishing marginal utility; 3. price elasticity of demand; 4. equilibrium price; _____the.

E. Napp Monopoly In this lesson, students will be able to identify characteristics of a monopoly. Students will be able to identify and/or define the following.

Monopolies Definition, Causes & Pricing. Monopoly Market Characteristics One Seller Unique Product—no substitutes Difficult/Impossible to enter or leave.

Monopoly, Oligopoly, Monopolistic Competition

KECSSMs. Murren Outcome : SWBAT compare monopolies, oligopolies and monopolistic competition.

Oligopolies Oligopoly– A market structure in which a few large sellers (companies) control most of the production of a good or service. Exists when: 1.Only.

MARKET STRUCTURES MONOPOLY. O FORM WHEN BARRIERS PREVENT FIRMS FROM ENTERING A MARKET THAT HAS A SINGLE SUPPLIER O CAN TAKE ADVANTAGE OF THEIR MARKET.

Monopolies!!! Are they good for society?. Monopoly Characteristics: 1. Number of Firms = 1 2. Variety of Goods = None 3. Barriers to Entry = Complete.

Chapter 7 Section 2 The Impact of Monopoly.

ECO 1 MONOPOLY AND MONOPOLISTIC COMPETITION Erkmen Giray ASLIM (erkmengirayaslim.com)erkmengirayaslim.com 10/22/2015.

7-1: WHAT IS PERFECT COMPETITION?. Competition  Economists classify markets based on how competitive they are  Market structure: an economic model of.

Market Structures.  What is Perfect Competition?

CH. 9: MARKET STRUCTURE 1. How much COMPETITION is in a MARKET. 2. CRITERIA A. Market Size A. Market Size B. Product Type B. Product Type C. Entry/Exit.

Chapter 7.1 Notes Market Structures.

7.1 - Objectives Standard Address

Market Structure is the amount of competition in a particular market. 4 basic market structures in the American economy Perfect Competition Monopolistic.

1.  exists when a single firm is the sole producer of a product for which there are no close substitutes. 2.

Monopoly: This is a situation where a single producer (firm) is the sole producer of a good that has no close substitutes.

Highly Competitive Markets.  Aim: To what extent is OPEC a monopoly?  Homework: Read section on Imperfectly Competitive Markets, write down definitions.

Monopolies Definition, Causes & Pricing Chapter 15.

Business Growth and Expansion. Growth through Reinvestment Company reinvests profit back into company Main way for small businesses to grow Can reinvest.

Chapter 7 Market Structures Industry=Market. Four Types of Market Structures  I. Perfect Competition  II. Monopolistic Competition  III. Oligopoly.

Market Structures Ch. 7. Sec. 1: Perfect Competition Definition: Perfect competition – aka: pure competition Four Conditions for perfect competition –

Monopolies. Monopoly  Characteristics  1. A single producer - only producer of good or service  2. No close substitutes – if consumer does not buy.

Market Structures Chapter 7. Perfect Competition, 7.1 I. Perfect Competition is a market structure in which a large number of firms all produce the same.

Market Structures How do producers manipulate a market to get what they want?

CHAPTER 8: SECTION 2 A Perfectly Competitive Market Characteristics of a Monopoly A monopolistic market has the following three characteristics: It has.

What Markets Exist Mr. Wyatt. Perfect Competition It’s the simplest, purest form of the market structures. Lots of firms all producing basically the same.

Oligopolies Oligopoly– A market structure in which a few large sellers (companies) control most of the production of a good or service. Exists when:

Competition and Monopolies

Chapter 7.1 Notes Market Structures.

Market Structures `.

Conditions of an Oligopoly

Monopoly Chapter 7 Section 2.

Please pick up a Warm Up sheet from the folder on the table in front, get out a pen or pencil, and wait for today’s question to appear on the board.

Definition, Causes & Pricing Chapter 15

Ch. 13: Monopoly Causes of monopoly

7-1: What is Perfect Competition?

Market Structure.

S&D #31 : Monopoly TEST & CW DUE TUES!.

MARKET STRUCTURES The structural condition of a market has an enormous influence on supply, demand, pricing, efficiency, fairness and resource allocation.

Monopoly In this lesson, students will be able to identify characteristics of a monopoly. Students will be able to identify and/or define the following.

Promoting and Protecting Competition

MARKET STRUCTURES The structural condition of a market has an enormous influence on supply, demand, pricing, efficiency, fairness and resource allocation.

Market Structure.

Competition and Monopolies

Definition, Causes & Antitrust Laws Chapter 15

Definition, Causes & Pricing Chapter 15

Presentation transcript:

S&D #31 : Monopoly TEST & CW DUE TUES!

Monopoly 1.1 Firm / Supplier 2.No close substitutes 3.VERY high barriers of entry 4.Control price *Rare! Anything that is profitable attracts substitutes! *Generally illegal due to antitrust legislation

Types of Legal Monopolies 1.Natural Monopoly : 1 seller is most efficient due to economies of scale –Cable, electricity, water, etc 2.Geographic Monopoly : limited by location Only grocery store in town Fewer due to internet

Other types… 3.Technological monopoly : new products gain patent become sole owners of the technology 3.Gov. Monopoly: when gov is sole supplier of product Public utilities: water, roads, sewer

Cell Phone Service Providers! TMobile

S&D #32: Is this a legal? AT&T is attempting to buy T-Mobile. If AT&T is able to do this, how much of the cell phone service market will it control? Who has the power to stop the merger? What are 2 reasons why they should merge? Who has the worst cell phone service? What could happen to price if this occurs? What happened in Canada? What does this article suggest that Obama should do? Do you think this merger will improve service or price?