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Definition
| Products are the same or similar; easily substituted |
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Term
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Definition
| Differentiated product; real or percieved differences exist (color, style, quality) |
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Term
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Definition
| Action taken by industy leader (i.e. Sony) to raise the price; other large firms follow suit (Corporation) |
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Term
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Definition
| A firm that takes the market price determined by supply and demand |
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Term
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Definition
| a firm that has control over the price of the product is sells; no competition |
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Term
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Definition
| Bills and acts designed to monitor and regulate big business, prevent monoplies |
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Term
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Definition
| Owned and controlled by one person |
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Term
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Definition
| owned and controlled by two or more people |
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Term
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Definition
| owned by the stockholders and treated by law as an individual |
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Term
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Definition
| Determined by market and considerable discreation prossible price leadership |
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