Thư viện đồ án, luận văn, tiểu luận, luận án tốt nghiệp, thạc sĩ, tiến sĩ, cao học
Functions of Money Medium of exchange Used to buy/sell goods Unit of account Goods valued in dollars Store of value Hold some wealth in money form Liquid
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Fiscal Policy Deliberate changes in Government spending Taxes Designed to Achieve full employment Control inflation Encourage economic growth
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Real GDP desired at each price level Inverse relationship Real balances effect Interest effect Foreign purchases effect
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The Business Cycle Alternating increases and decreases in economic activity over time Phases of the business cycle Peak Recession Trough Expansion
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Gross Domestic Product Measure of aggregate output Monetary measure Avoid multiple counting Market value of final goods Ignore intermediate goods Count value added
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In monopolistic competition, firms can differentiate their products by the product attributes, by service, with location, or with brand names and packaging. There is relatively easy entry and exit, just not as easy as with perfect competition. That is why the number of sellers is not as large as in perfect competition, but it is relatively large. T...
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An Introduction to Pure Monopoly Single seller—a sole producer No close substitutes—unique product Price maker—control over price Blocked entry—strong barriers to entry block potential competition Nonprice competition—mostly PR or advertising the product
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We will be discussing all four of these market models, but first we will start with pure competition. The other market models will be discussed in future chapters. Pure competition involves a very large number of firms producing a standardized product and there is easy entry and exit. Pure monopoly is a market structure in which one firm is the sol...
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The Business Population Plant Factory, farm, mine, store, website, warehouse Firm Operates one or more plants Industry Group of firms that produce the same products
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Market Failures Market fails to produce the right amount of the product Resources may be Overallocated Underallocated
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