https://padlet.com/21pricj/7hqge5br5xlr Made with an open mind en-us 2020-03-11 23:01:37 UTC 2020-03-11 23:20:06 UTC hello@padlet.com 21pricj https://padlet.com/21pricj/7hqge5br5xlr/wish/458781468 This is basically competition where two or more companies fight for the lowest price and best products to win the market. Arby's and Wendy's are an example of monopolistic competition. These companies have similar products so they have to fight for the cheapest price of what they got which is food. They also have to fight for the best quality of food for their company.
https://www.youtube.com/watch?v=aap5XBt53Hk ]]> 2020-03-11 23:04:02 UTC https://padlet.com/21pricj/7hqge5br5xlr/wish/458781468 21pricj https://padlet.com/21pricj/7hqge5br5xlr/wish/458782811 This is competition where the prices are similar or doesn't matter. In non price competition people typically buy things because their quality is good and the product has better features. An example of non-price competition is Ford and Chevy. Both make full sized trucks and they are priced fairly similar. People buy the truck they are either repping or has the best features.

https://www.youtube.com/watch?v=OKwt9Dpr8oI 

]]> 2020-03-11 23:08:48 UTC https://padlet.com/21pricj/7hqge5br5xlr/wish/458782811 21pricj https://padlet.com/21pricj/7hqge5br5xlr/wish/458783910 Oligopolies are fairly similar to monopolies, but the only difference is that oligopolies are a group of companies running a market instead of just one company. An example of an oligopoly is the phone industry. This industry is ran by Verizon, T-mobile, and AT&T. These companies completely dominate the market.
https://www.youtube.com/watch?v=g_BU-Uafx6o

]]> 2020-03-11 23:12:33 UTC https://padlet.com/21pricj/7hqge5br5xlr/wish/458783910 21pricj https://padlet.com/21pricj/7hqge5br5xlr/wish/458785370 This is basically when a companies fight over who can have the lowest price for their products. Gas stations are in a price war because they are trying to see who has the lowest gas prices at their station. Usually if they have the lowest they have the most customers.
https://www.youtube.com/watch?v=Fjg5lYqvzUs

]]> 2020-03-11 23:16:53 UTC https://padlet.com/21pricj/7hqge5br5xlr/wish/458785370