1. Business Competition

2. Competitive Market
An environment in which buyers and sellers can buy and sell goods or services among themselves
Is governed by supply and demand

3. Example: Women’s Clothing Stores

4. Monopoly
A market in which there are many buyers and only one seller

5. Example: Microsoft

6. Oligopoly
A market in which a smaller number of competitors compete with each other

7. Example: Video Game Systems

8. Merger
A combination of two or more businesses to achieve better efficiency and productivity

9. Example: U.S. Airways and Delta

10. Horizontal Merger
When one firm merges with another to produce similar products

11. Example: John D. Rockefeller and Disney purchased other oil refineries

12. Vertical Merger
When one firm merges with others to control all factors of production

13. Example: Andrew Carnegie owned all means of production for his steel company

14. Conglomerate
A group of unrelated businesses controlled by the same management group

15. Example: VIACOM(MTV, VH1, Nickelodeon, Paramount Studios)