A2 Micro Glossary Flashcards

Anti competitive behaviour

Barriers to entry

Bilateral monopoly

Break even

Business ethics

Collective bargaining

Compensating wage differentials

Competition policy

Concentration ratio

Constrained revenue maximisation

Consumer surplus

Contestable market

Cost benefit analysis

Cross subsidy

Deadweight loss

Diminishing returns

Dominant market position

Dynamic efficiency

Economic efficiency

Economies of scope

External benefits

External costs

External economies of scale

First mover advantage

Free rider problem

Game theory

Gini coefficient

Horizontal integration

Imperfect competition

Inequality

Innovation

Internal growth

Law of unintended consequences

Limit pricing

Marginal Revenue Product

Minimum efficient scale

Nash equilibrium

Natural monopoly

Non price competition

Normal profit

Oligopoly

Poverty trap

Price leadership

Product differentiation

Product line pricing

Profit related pay

Regulatory capture

Rent seeking behaviour

Returns to scale

Revenue maximisation

Satisficing behaviour

Shut down price

Static efficiency

Strategic entry deterrence

Sunk costs

Tacit collusion

Two part pricing tariffs

Vertical integration

Absolute poverty

Collusion

Competition and markets authority

External economies of scale

Organic growth

Resource Allocation

Relative poverty