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a theoretical market structure in which the following criteria are met

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characterizes an industry in which many firms offer products or services that are similar, but not perfect substitutes

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an industry which is dominated by a few firms

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A market structure characterized by a single seller, selling a unique product in the market

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the value of something when a particular course of action is chosen

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the amount of a good or service that consumers are willing and able to buy at a certain price

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he amount of a good or service that producers are willing and able to sell at a certain price

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the intent to achieve monetary gain in a transaction or material endeavor

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the act or process of trying to get or win something that someone else is also trying to get or win

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a model showing the basic economic relationships within a market economy

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freedom of private business to organize and operate for profit in a competitive system without interference by government beyond regulation necessary to protect public interest and keep the national economy in balance

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a system that combines aspects of both capitalism and socialism

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an economic system in which economic decisions and the pricing of goods and services are guided by the interactions of a country's individual citizens and businesses

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a system where the government, rather than the free market, determines what goods should be produced, how much should be produced, and the price at which the goods are offered for sale

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An economic system in which the decisions of what, how, and for whom to produce are based on custom or habit

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The aggregate of all human physical and mental effort used in creation of goods and services

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natural resources that are used to make goods and services

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one who organizes, manages, and assumes the risks of a business or enterprise

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any human-made resource that is used to create other goods and services

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Inability to satisfy all wants at the same time