Module 10 - Understanding Markets and Market Structure
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New file after Dec
Activity 1 : : Activity 2 : : Activity 3 : : Activity 4 : : Activity 5
Activity 2: Topics and Concepts
Understanding Market Structures
- competitive firm
- deadweight loss
- monopolistic competition
- monopoly
- natural monopoly
- pure monopoly
- anti-trust laws
- marginal revenue
- marginal cost
- mutual interdependence
- monopoly profit
- cartel
- total cost
- law of diminishing returns
- constant returns
- economic inefficiency
- perfect competition
- oligopoly
- patent
- prisoner's dilemma
- product differentiation
- economic profit
- trade barriers/barriers to entry
- deregulation
- economies of scale/scope
- average cost
- opportunity cost
- fixed/variable inputs
Understanding a Free Enterprise Economy
- entrepreneur
- capital
- interest
- discounting
- supply and demand for funds
- investment
- risk bearing
- employment
- economic growth
- economic profit
- profit
- innovation
- invention
- time-value of money
- economic rent
Understanding Labor Markets
- unemployment
- natural rate of unemployment
- labor union
- labor market
- mediation
- collective bargaining
- arbitration
- wage rate
- productivity
- wage differential
- minimum wage law
- economic rent
- marginal product
- marginal revenue product
- human capital
- noncompeting groups
- real wages
- factor market
- derived demand
- backward-bending supply curve
- dual labor markets
- American Federation of Labor
- Wagner Act
- National Labor Relations Board
- Congress of Industrial Organizations
Create a visual schematic of these terms using either concept maps, notes, or flash cards. Enter your definitions of key terms, definitions, concepts and vocabulary into your notebook or computer file.
Activity 1 : : Activity 2 : : Activity 3 : : Activity 4
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by the Contributing Authors.
Cite/attribute Resource.
rbennett1. (2007, November 26). Module 10 - Understanding Markets and Market Structure. Retrieved November 20, 2008, from Western Governors University Web site: http://ocw.wgu.edu/liberal-arts/iea4-and-iec4-econ-and-world-history-after-dec/a102.html.
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