Economics Ch. 7 Market Structures 7-b

Requirement that businesses have to reveal information to the public

Market structure where one firm dominates the industry

Real or imagined difference between competing products

Cost, harm  or inconvenience suffered by a third party because of the actions of others

Situation in which average cost of production falls as the firm gets larger

Rule requiring a company to stop an unfair business practice that limits competition

Who regulates the stock market and other public exchanges

Formal illegal agreement to set prices or to behave in a cooperative manner

Philosophy that government should not interfere with business activities

Market structure where advertisement is heavily used