PPT-Monopolies

Types of Market Structure Four principal models of market structures Perfect Competition Many producers sell identical product Monopoly Single producer sells a single undifferentiated product. The . Rise. of Big Business. Essential Question. :. Was the rise of industry good for the United States?. . A Brassy, Flamboyant Age. Gilded Age. :. {Reconstruction (1877). --. Progressive Era (1901)}. 2013. |. . 2. History of Eurasian Integration. |. . 3. Universal Stages of Regional Integration. |. . 4. The Customs Union of Russia, Belarus and Kazakhstan. |. . 5. The Single Economic Space between Russia, Belarus and Kazakhstan. The . Rise. of Big Business. Essential Question. :. What factors led to the rise of the American Industrial Revolution from 1870 to 1900?. Warm-Up Question:. Examine the image on the next slide & answer the question: . What does monopoly mean?. . “. monos. ” = one “. polein. ” = seller. Not a new phenomenon .  Thales, Aristotle. Necessary conditions. Single seller . Examples: most public utility companies and patented drugs.. Monopoly. -A situation in which a . single. . company. . owns. all or nearly all of the . market. for a given type of . product. or . service. . . No competition!!!. Cartel. loose . association of businesses making the same product, that agree to share certain business practices, such as same pricing.. Monopoly and Antitrust Policy. Copyright © 2017 Pearson Education, Inc. All Rights . Reserved. Is Any Firm Ever Really a Monopoly?. We define . monopoly.. Monopoly. is a market structure consisting of a firm that is the only seller of a good or service that does not have a close substitute.. Copyright © 2017 Pearson Education, Inc. All Rights Reserved. Is Any Firm Ever Really a Monopoly?. We define monopoly.. Monopoly. is a market structure consisting of a firm that is the only seller of a good or service that does not have a close substitute.. John D. Rockefeller. Robber Barons . Workers Revolt!!!. Working Conditions. Child Labor. UNIONS FORM. Great Strike of 1877. Haymarket Strike. Homestead Strike. Pullman Strike. By Robber Barons: Junlan Lu, Sushil Bhandaru, Bhargav Vemulapalli. Of course they are justified!. Who are the Robber Barons?. Wealthy industrialists. Extremely powerful. Believed in creation of large, consolidated, organization. What is a monopoly?. A monopoly forms when barriers prevent firms from entering a market that . has a single . supplier with close to no substitute goods. .. Monopoly markets only have one seller, whereas, perfectly competitive markets have multiple sellers.. One firm selling good or service with no substitutes. Barriers to entry that prevent competition from new firms. What is a monopoly?. Monopoly in the news. Natural. One firm can meet demand at a lower ATC than two or more firms. Market Structure: Monopoly. Intro to Monopolies. Monopoly is exact opposite of perfect competition. Monopoly – one supplier of a good . Demand curve for the firm = demand curve for the market. Market Structure: Monopoly. 1890-1920. Terms to Know. Progressivism: Movement to respond to societal problems caused by industrialization and urbanization.. Socialism: . a political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a . Transforming the American Economy and Society. Robber Barons or Captains of Industry?. Student Learning Target/Objective. I can examine how industrialization transformed the US economy.. Access . Notebowl.