Studied by 3 peopleTags & Description
Monopolistic
________- the type of market where many firms compete with products that are somewhat different.
Edisons
Resources are owned by individuals and ________ are made independently with no attempt at gov regulation or control.
Promotion
________- communicate to consumers that they need this product and that it is priced appropriately.
Form
________- name of product, picture of drawing or product, and description.
Oligopoly
________- a few businesses offer very similar products or services.
Monopoly
________- a market in which one supplier offers a unique product and had very little competition.
producer
The ________- businesses that produce goods and services.
consumer
A(n) ________ is the person who buys goods and services.
Scarcity
________ and Unlimited wants and needs of consumers.
Pure
________- the type of market in which many suppliers offer very similar products.
steady supply
It produces a(n) ________ and demand for consumers wants and needs, without having shortage or surplus.
Supply
________ is the product and demand is the consumers wants and needs.
Demand
________- when the products price rises the ________ will lessen.
The producer
businesses that produce goods and services
Surplus
too much produced (on the top)
Shortage
not enough produced (on the bottom)
Demand
when the products price rises the demand will lessen
Supply
when the good is increased more will be demanded
Pure
the type of market in which many suppliers offer very similar products
Oligopoly
a few businesses offer very similar products or services
Form
name of product, picture of drawing or product, and description
Place
where are you going to sell it
Time
When are you going to sell it
Possession
What will you take as an exchange for product
Note
Flashcard