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Monopoly
(Types of Market Structures)
Single supplier of goods and services with no close substances
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Oligopoly
(Types of Market Structures)
Industry dominated by a few companies who have some control of prices, such as a automotive industry, motorcycles, lawn mowers, ATV's, firearms
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Monopolistic Competition
(Types of Market Structures)
- The most common type of structure in the U.S
- - Large numbers of suppliers that sell slightly different products with some control over prices
- - Use non price competition (differentiation of product)
- Ex: Covergirl, Crest, Collgate etc
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Antitrust Law
(Types of Market Structures)
Protects companies from unfair trade practices
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Horizontal
(Types of Merges)
- Buy another company that is already in your core business
- - Bakery buys bakery
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Vertical
(Types of Merges)
- Buy a company that is line with total process and sell of products
- -paper mill buys forest, ice creamer buys dairy
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Conglomerate
(Types of Merges)
- Large corporation that buys companies that may be unrelated
- Ex: Yum- KFC, Pizza Hut, Taco Bell, A & W, Long John Silvers
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Copyright
- Protection for written work, i.e books, articles, songs
- -protection good for life of author plus 70 years (___ can be bought and sold)
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Patient
- Protection for invention, product, modification
- - protection good for 20 years
- - hard for small company to protect
- (can be bought and sold)
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