Competitive And Concentrated Markets
Visão Geral
Walk down a street with eleven food stalls and you will find eleven prices within a few cents of each other. Walk into a country where one company supplies all the electricity and there is one price, take it or leave it. The good being sold is not what makes the difference. The number of sellers is.
This lesson is about market structure: how many producers there are, how different their products are, and how easy it is for a new firm to walk in. You will learn what happens to price, choice, quality and profit as a market moves from many sellers to very few, why a monopolist can do things a market trader cannot, and what an oligopoly is. Then you will apply demand and supply to a market you have not yet analysed with them: the market for labour, where the price is a wage, and where the same tools explain why a surgeon earns many times what a shelf-stacker does.
Objetivos
- Identifying market structures
- Competitive markets
- The main characteristics of a competitive market
- The impact of competitive markets on price and choice
- The economic impact of competition on producers and consumers
- Non-competitive markets
- The main characteristics of a non-competitive market
- The impact of non-competitive markets on price and choice
- Monopoly and oligopoly
- The labour market
- The role and operation of the labour market
- Determination of wages through supply and demand
Mapa mental
Este tema esta mapeado para mostrar como as ideias se ligam.
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Nota de Aula
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Avaliação da Lição
Parabéns por concluir a lição em Competitive And Concentrated Markets. Agora que você explorou o conceitos e ideias-chave, é hora de colocar seu conhecimento à prova. Esta seção oferece uma variedade de práticas perguntas destinadas a reforçar sua compreensão e ajudá-lo a avaliar sua compreensão do material.
Irá encontrar uma mistura de tipos de perguntas, incluindo perguntas de escolha múltipla, perguntas de resposta curta e perguntas de redação. Cada pergunta é cuidadosamente elaborada para avaliar diferentes aspetos do seu conhecimento e competências de pensamento crítico.
Use esta secção de avaliação como uma oportunidade para reforçar a tua compreensão do tema e identificar quaisquer áreas onde possas precisar de estudo adicional. Não te deixes desencorajar pelos desafios que encontrares; em vez disso, vê-os como oportunidades de crescimento e melhoria.
- In which occupations will wages tend to be highest? In those where: A. workers are in excess demand B. workers are paid weekly C. workers need little training D. workers require few qualifications Answer: A
- Which of the following is a characteristic of a competitive market? A. A single producer sets the price B. Barriers to entry are high C. Many firms sell similar products and none can influence the price D. Products are heavily differentiated by patents Answer: C
- A market is dominated by four large firms that watch each other's prices closely. What is this market structure called? A. A competitive market B. A factor market C. A monopoly D. An oligopoly Answer: D
- Total sales in a market are $400 million and the largest firm sells $140 million. What is its market share? A. 2.9% B. 26.0% C. 35.0% D. 65.0% Answer: C
- Which of the following would be most likely to raise the equilibrium wage of nurses? A. A fall in the demand for health care B. A large increase in the number of qualified nurses C. A reduction in the training required to qualify D. An increase in government spending on hospitals Answer: D
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