Monopoly (0)

Lõik failist

Sarnased õppematerjalid

5

docx

Monopolistic competition

Relaxing the characteristic of outputs from homogeneous to "differentiated products" was the basic change from the purely competitive market model. Thedifferentiation of output results in the demand faced by each seller being less than perfectly elastic. · Since there are "many sellers," many substitutes for each seller's output is implied. This suggests that the demand faced by a firm in a monopolistically competitive market is likely more elastic than in a monopoly. The elasticity obviously depends on the preferences and behavior of the buyers. The negative slope of a firm's demand function in imperfect competition results in a different result than in pure competition The conditions of entry and exit to and from a monopolistically competitive market are similar to the purely competitive market; there are no major BTE. · Entry and exit are relatively easy. The relative ease of entry/exit makes the long run

Micro_macro ökonoomika

7

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Pure Competition

· Existing firms are strong rivals and affects each other's price and output. Control over price limited by mutual interdependence; considerable with collusion (the decision of rivals). A great deal of nonprice competition, especially with differentiated products - ex. steel, automobiles, household appliances Harder for a firm to enter or exit. · Imperfect competition Pure Monopoly · Only one firm is involved. · Products are unique with no substitutes. · Nonprice competition: mostly public relations · Entry of additional firms is not possible--one firm constitutes the entire industry. · Entry to the industry is often blocked by government. It requires patent or licenses. There is total control over price "Price Makers" · ex. local electric utility · Oil, · diamonds

Micro_macro ökonoomika

7

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The cost of production

The costs of production Production Decisions about production require individual agents to make decisions about the allocation and use of physical inputs. · Objectives of agents, technology, availability and quality of inputs determine the nature of these decisions. Since the objectives are often pecuniary, it is often necessary to relate the decisions about the physical units of inputs and outputs to the costs of production. · If the prices of the inputs and the production relationships are known (or understood), it is possible to calculate or estimate all the cost relationships for each level of output. In practice

Micro_macro ökonoomika

18

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Monopoly paper / DeBeers monopol

Running head: DE BEERS MONOPOLY De Beers Monopoly Microeconomics Diamonds ­ an extremely hard, highly refractive crystalline form of carbon that is usually colourless and well know as "girl's best friends", but the story of how diamonds got so famous and how they have remained so rare is down to a company named DeBeers. This paper is about DeBeers, the most powerful diamond company in the world. Monopoly main characteristics were that firm is single seller of the product without any close substitutes. Nowadays DeBeers have many substitutes and that is the reason why they are not a pure monopoly, but they are definitely nearly one. This is because the firm still has the bulk of world sales and controls 45% of world diamonds market. This paper examines these monopoly characterises, also how and why DeBeers diamonds monopoly still exists and what benefits they give the world

Mikromajandus

22

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Mikro ja makroökonoomika terminid

Hinnaväline konkurents Non-price competition Не ценовая конкуренция Homogeenne toodang Homogeneous production Гомогенный, однородный продукт Kartell Cartel картель Kokkuleppe oligopol Collusive oligopoly Сговорная олигополия Konkurentsi täielik Monopoly монополия puudumine Kulupõhine Average cost pricing Ценообразование на осне hinnakalkulatsioon себестоимости Kasvavate kuludega haru Increasing –cost-industry С возрастающими затратами отрасль

Majandus

7

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Demand and Supply

MARKET Market system is an interrelated set of markets for goods, services and inputs. A market is defined as the interaction of all potential buyers and sellers of a good or class of goods that are close substitutes. · The markets provide information to agents that may be used to identify and evaluate alternative choices that might be used to achieve objectives. · Each agent acting in a market has incentives to react to the information provided. · Given the information and incentives, agents within markets can adjust to changes. The process of market adjustment can be visualized as changes in demand and/or supply. · Markets include all potential buyers and sellers ­ geographic boundaries of market ­ markets defined by nature of product and characteristics of buyers ­ conditions of entry into market ­ markets, competition and substitutes Markets include all "

Micro_macro ökonoomika

40

doc

Introduction of SCM

INTRODUCTION OF SUPPLY CHAIN MANAGEMENT (SCM) A supply chain is a network of facilities and distribution options that performs the functions of procurement of materials, transformation of these materials into intermediate and finished products, and the distribution of these finished products to customers. Supply chains exist in both service and manufacturing organizations, although the complexity of the chain may vary greatly from industry to industry and firm to firm. Supply chain management is typically viewed to lie between fully vertically integrated firms, where the entire material flow is owned by a single firm and those where each channel member operates independently. Therefore coordination between the various players in the chain is key in its effective management. Cooper and Ellram [1993] compare supply chain management to a well-balanced and well-practiced relay team. Such a team is more competitive when each player knows how to

Kategoriseerimata

26

docx

Public Administration and Innovation

Preparing for exam. Focus areas Defining innovation ● “An innovation is an idea, practice, or object that is perceived as new by an individual or other unit of adoption.” (Rogers 1952) ● CIS survey: “Product innovations must be new to your enterprise, but they do not need to be new to your market”. ● “Companies achieve competitive advantage through acts of innovation. They approach innovation in its broadest sense, including both new technologies and new ways of doing things” – (Porter 1990) ● “An innovative business is one which lives and breathes “outside the box”. It is not just good ideas, it is a combination of good ideas, motivated staff and an instinctive understanding of what your customer wants” – (Branson 1998) ● “...novel implementation of an invention, discovery, new or existing knowledge in economic process” (Joseph A. Schumpeter) ● An innovation is the implementation of a new or significantl

Public Administration

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