GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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03:26 Feb 9, 2004 |
Serbian to English translations [PRO] Economics | |||||||
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| Selected response from: Karen Ordanic Local time: 04:58 | ||||||
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Summary of answers provided | ||||
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5 | monopoly, monopsony, oligopoly, oligopsony |
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monopoly, monopsony, oligopoly, oligopsony Explanation: Monopol - Monopoly Absolute control of all sales and distribution in a market by one firm, due to some barrier to entry of other firms, allowing the firm to sell at a higher price than the socially optimal price. Monopson - Monopsony The existence of only one buyer in a market, forcing sellers to accept a lower price than the socially optimal price. Oligopol - Oligopoly A Market characterized by a small number of producers who often act together to control the supply of a particular good and its market price. Oligopson - Oligopsony A Market characterized by a small number of large buyers who control all purchases and therefore the market price of a good or service. Reference: http://www.duke.edu/~charvey/Classes/wpg/bfglosa.htm Ekonomski leksikon |
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