Economics 2.3-2.4

Monopoly

A market structure in which there is a single supplier of a good or service, or a kind of product for which there is no good substitute is called

Collusion, competition, or cartel has the following characteristic: usually items not produced in factories

Cartel

Collusion, competition, or cartel has the following characteristic: Sharing of information between companies that should be competitors

Collusion

Buyers, sellers, and producers all have someone else they are competing with for economic benefits. This is known as: Competition Cartels Collusion Monopoly

Competition

Collusion, competition, or cartel has the following characteristic: how many people want to buy the product

Competition

Cartels

Formal agreements between companies to do business in such a way that eliminates competition from the market is known as

Collusion

When companies join together to try to control prices or eliminate competition so that they exclusively benefit, it is called