Introduction to Competition Theory . MICROECONOMICS APRIL 2010. How do Economists classify competition?. There are four major theoretical frameworks: Perfect Competition Monopoly Monopolistic Competition Oligopoly (including Duopoly) . Introduction to Perfect Competition Assumptions: .
MICROECONOMICS APRIL 2010
There are four major theoretical
Case Study: Wheat European Union
Stimulus 1:What do they mean by industry consolidation? What impact would this have on competition?
In practical terms how do companies outrun the competition?
The expression `being one step ahead of the competition` in real term means…
What do they mean by the expression `In this business it’s Dog Eat Dog`…?
Which one of these pricing strategies do you feel is the most effective?
What does the cartoon say about the existing competition?
Why are patents so important in highly competitive industries?
What do we mean by `anti-trust`?
How does it relate to competition?
Explain the current battle betweeMicrosoft and Google. Who will win?
the symbolism in this cartoon.
Stimulus 10. Why has Bill Gates made some lawyers very rich?
In the past how did Microsoft make its products incompatible with competitors?
Why does absolute power corrupt absolutely in the corporate world?
What does this say about the relative market power in this industry?
Who are the competitors to these companies? Why do they have less market share?
Stimulus 14: Who is featured in this picture? What are the key issues?
Stimulus 15: What illegal activity may be taking place in this cartoon? Why?
Would it be hard to prove? How common is this in the real business world?
Stimulus 16. In a paragraph response, explain the messages from this cartoon?
How does this
cartoon relate to a previous question?