Chapter+11

=Chapter 11: How Businesses Compete=

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=Can you...=


 * 1) Describe and give examples of firms that are: pure competition, monopolistic competition, oligopoly, monopoly?
 * 2) Give examples of "intellectual property?"
 * 3) Define the differences between a patent, trademark, and copyright?
 * 4) Describe various aspects of marketing, and define the "Four Ps?"
 * 5) Provide examples of horizontal, vertical, and conglomerate mergers, and describe differences between them?\

=Chapter 11 Extra Credit: (Answer each question in 3-4 //complete// sentences)= =OR...= Read one of the articles linked below and answer the questions below.
 * 1) Cable TV companies frequently have a monopoly in the neighborhoods they serve. An article in //Advertising Age// magazine, however, argued that cable is not a monopoly because consumers have so many other entertainment choices - direct satellite, movies, radio, etc. Which position do you support? Explain your answer.
 * 2) Granville T. Woods was an African-American inventor who lived around the turn of the century. Among his inventions was the "synchronous multiplex railway telegraph." It prevented railway accidents by allowing trains to maintain contact. He also developed the "hot" third rail which is used to boost power to electric locomotives. Unfortunately, many of Wood's patents were "stolen" and he died penniless in 1900. Why is copying another person's invention, artwork, or magazine article considered stealing? How do laws protect investors, artists, and authors today?
 * 3) General Mills is a major producer of breakfast cereals, ALCOA is a world leader in aluminum production, and Lovett Farms, Inc. is a large wheat grower.
 * 4) Compare the competitive structure of the markets in which these firms operate.
 * 5) Compare teh relative importance of price in their markets.
 * 6) Compare the extent to which product differentiation and price leadership are factors in their markets.

[|News Corp, NBC to Merge to Challenge YouTube] [|European Glass Companies Fined for Price Fixing] [|Dutch Brewers Fined for Price Fixing]
 * What kind of a merger might this represent: horizontal or vertical? Why?
 * How can these companies benefit from this merger? Think about risk, economies of scale.
 * How is intellectual property important to this story?
 * What kind of market structure exists with YouTube?
 * Is this an article talking primarily about supply or demand?
 * How will this service be financed?
 * How does this show the importance of marketing?
 * How does this article show changes in consumer expectations/habits?
 * Be able to discribe the differences between Pure Price Competition, Monopolistic Competition, Oligopoly, and Monopoly.
 * What is the importance of marketing when it comes to business competition?