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Markets. Competition. Monopoly - Coggle Diagram
Markets. Competition. Monopoly
prices determine
how
who
what is produced
what will be the mix
buyers and sellers communicate
by letter
by e-mail
by phone
through their agents
in person
competition influences
supply
demand
prices
monopoly
very limited numbers of sellers
one sellers
state planning
the types of monopoly
natural
legal
restrict "cornering the market"
anti-trust laws
the Monopolies Commission controls
mergers
takeovers
arrangements
acquisitions
in the market systems
competition answers
what
how much to produce
how
for whom
3 basic resources
labour
producers
best workes
lower wages
workers
best jobs
the highest wages
capital
land