Economy/ Market structures and failures

Question 1

How is call a market with a 1 demand and 1 offer ?

Accepted Answer

Bilateral monopoly

Question 2

Definition price-leaderships

Accepted Answer

Major producer sets the price, Other sellers adapt to the price and regulate the production accordingly

Question 3

How is call a market with a large demand and offer ?

Accepted Answer

Competition

Question 4

Prices are determined by the law of supply and demand

Accepted Answer

True

Question 5

On what depends the structure of a market ?

Accepted Answer

Offer and demand, Number of buyers and offer, Number of buyers and sellers

Question 6

How is call a market with a some demand and large offer ?

Accepted Answer

Oligopsony

Question 7

What are the advantages of competition between companies ?

Accepted Answer

Advantageous payment terms, Prices tending towards "normal price", Good quality products, Efficient customer service

Question 8

Definition monopolistic competition

Accepted Answer

Marketing and advertising play an important role, Each seller has a monopoly and can impose his selling price, Market where several sellers offer similar products

Question 9

How is call a market with a large demand and some offer ?

Accepted Answer

Oligopoly

Question 10

Research activities is a negative externality

Accepted Answer

False

Question 11

How is call a market with a some demand and some offer ?

Accepted Answer

Bilateral oligopoly

Question 12

Definition price-war

Accepted Answer

Sometimes allows the consumer to buy for less money, Various producers engage in a price-war to eliminate troublesome rivals

Question 13

Perfect competition is a theoretical analysis model

Accepted Answer

True

Question 14

What are the conditions for a perfect competition ?

Accepted Answer

Products must be homogenous, Market must be clear, The market must be free

Question 15

How is call a market with a 1 demand and large offer ?

Accepted Answer

Monopsony

Question 16

Definition information asymmetry

Accepted Answer

Can lead to market failure, Situations where 1 (or more) economic agent have more info than other agent, Can lead to market that can't provide goods/ services optimally

Question 17

How is call a market with a large demand and 1 offer ?

Accepted Answer

Monopoly

Question 18

Definition understanding

Accepted Answer

Each producer adapts its production to the price, Producers agree openly on prices, Producers are called cartels

Question 19

How is call a market with a 1 demand and some offer ?

Accepted Answer

Thwarted monopsony

Question 20

How is call a market with a some demand and 1 offer ?

Accepted Answer

Thwarted monopoly

Question 21

Definition oligopoly

Accepted Answer

Encompasses the concepts of understanding, price-leaderships and price-war, Small nb of sellers of same product, for action to modify market conditions, Price can vary because of difference between optimum price and normal price

Question 22

Definition public monopolies

Accepted Answer

Exist to safeguard general interest, Dangers of monopolies are less to be feared of

Economy/ Market structures and failures

Questions 22

Economy/ Market structures and failures

Questions 22