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23-25
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Private Goods
goods that, when consumed by one individual, cannot be consumed by another
public goods
economic goods that are consumed collectively, such as highways and national defense
externality
the unintended side effect of an action that affects someone not involved in the action
antitrust law
legislation to precent new monopolies from forming and police those that already exist
merger
a combination of 2 or more companies to form a single business
natural monopoly
a market situation in which costs of production are minimized by having a single firm produce the product
recall
situation in which a company pulls a product off the market or agress to change it to make it safe
Author
craziibabe47
ID
15682
Card Set
23-25
Description
History
Updated
2010-04-22T13:51:34Z
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