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Trade and Markets Jean Lee C. Patindol, c2011
The Economy Jean Lee C. Patindol, c2011 taxes services taxes services Produce goods and services,  Receive payments Make payments, Receive goods and services Government Consumers Producers
National Economic Goals ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Jean Lee C. Patindol, c2011
Economic Systems ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Jean Lee C. Patindol, c2011
Trade ,[object Object],[object Object],[object Object],Jean Lee C. Patindol, c2011
Value  vs. Cost ,[object Object],[object Object],[object Object],[object Object],[object Object],Jean Lee C. Patindol, c2011
Prices ,[object Object],[object Object],[object Object],Jean Lee C. Patindol, c2011
How Are Prices Determined in the Market? ,[object Object],[object Object],Jean Lee C. Patindol, c2011
Markets ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Jean Lee C. Patindol, c2011
Market Considerations ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Jean Lee C. Patindol, c2011
Pure or Perfect Competition ,[object Object],[object Object],[object Object],[object Object],[object Object],Jean Lee C. Patindol, c2011
Pure or Perfect Monopoly ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Jean Lee C. Patindol, c2011
Imperfect Competition ,[object Object],[object Object],[object Object],[object Object],Jean Lee C. Patindol, c2011
4 Types of Competitive Markets ,[object Object],[object Object],[object Object],[object Object],Jean Lee C. Patindol, c2011
Jean Lee C. Patindol, c2011 Feature/Type Near Pure Competition Monopolistic Competition Oligopoly Monopoly Level of Competition Very high High Few firms None Product Differentiation Very difficult Small firms compete over product differences Yes Product monopoly Buyer/ Seller Power Buyer Buyer and Seller Seller Seller Price Competition Yes Somewhat X X Need for Advertising Maybe Yes Less Need X

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Trade and markets

  • 1. Trade and Markets Jean Lee C. Patindol, c2011
  • 2. The Economy Jean Lee C. Patindol, c2011 taxes services taxes services Produce goods and services, Receive payments Make payments, Receive goods and services Government Consumers Producers
  • 3.
  • 4.
  • 5.
  • 6.
  • 7.
  • 8.
  • 9.
  • 10.
  • 11.
  • 12.
  • 13.
  • 14.
  • 15. Jean Lee C. Patindol, c2011 Feature/Type Near Pure Competition Monopolistic Competition Oligopoly Monopoly Level of Competition Very high High Few firms None Product Differentiation Very difficult Small firms compete over product differences Yes Product monopoly Buyer/ Seller Power Buyer Buyer and Seller Seller Seller Price Competition Yes Somewhat X X Need for Advertising Maybe Yes Less Need X