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A market in which there are many buyers but only one seller
pure competition
monopolistic competition
monopoly
oligopoly
Demand that does not react to change in price.
inelastic
resources
elastic
taxation
The REMOVALof some government controls over a business.
corporation
determinants
deregulation
regulation
The study of the economic behavior of individuals, households, and other small units.
pure competition
microeconomics
disequilibrium
deregulation
The government's role in business that affects production.
corporation
deregulation
regulation
price control
Mutual reliance between two or more groups.
interdependency
determinants
shortages
inelastic
Situation in which supply exceeds demand.
surplus
shortages
monopoly
resources
A market in which only a few sellers offer similar or identical products.
monopolistic competition
pure competition
oligopoly
monopoly
The point where supply and demand curves meet.
deregulation
regulation
equilibrium
disequilibrium
Money that must be paid to a government.
taxation
regulation
inelastic
elastic
Demand that reacts to change in price.
inelastic
elastic
taxation
surplus
A legal obligation to pay debt.
shortages
inelastic
taxation
liability
A market in which many companies sell products that are similar but not identical.
pure competition
monopoly
monopolistic competition
oligopoly
Physical outputs such as paper and electronics.
resources
goods
monopoly
surplus
Sitution in which demand exceeds supply.
resources
surplus
monopoly
shortages
A business structure that is legally owned by stockholders.
partnership
pure competition
sole proprietorship
corporation
