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DUMPING: Selling the same good to a foreign country at a lower price, often below production cost, than that charged to the domestic buyers. Dumping usually occurs because -- (1) producers in one country are trying to stay competitive with producers in another country, (2) producers in one country are trying to eliminate the producers in another country and gain a larger share of the world market, (3) producers are trying to get rid of excess stuff that they can't sell in their own country, (4) producers can make more profit by dividing sales into domestic and foreign markets, then charging each market whatever price the buyers are willing to pay.
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Lesson Contents
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Unit 1: Intro |
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Unit 2: Structure |
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Unit 3: Behavior |
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Unit 4: Analysis |
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Unit 5: Evaluation | |
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Oligopoly
- The first unit of this lesson, A Few Firms, begins this lesson with a look at the nature of oligopoly and how it is related to other market structures.
- In the second unit, Structure, we see how markets with a small number of large firms are structured.
- The third unit, Behavior, then looks at some of activities undertaken by oligopoly that are not seen in other market structures.
- In the fourth unit, Some Graphs, we use a few graphs to examine different ways that oligopoly firms interact in the production of output.
- The fifth and final unit, Taking Stock, then closes this lesson by considering the good and the bad of oligopoly and why it is often prone to government scrutiny.
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CAUSE AND EFFECT The notion that every event in the universe is the direct result of a preceding event, that one event A causes another event B. The purpose of the scientific method is to identify these cause-and-effect relations. This pursuit is based on a simple point of view: everything happens for a reason. For every action there is a consequence. And for every consequence there is a cause.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel seeking to buy either a pair of gray heavy duty boot socks or a 50-foot blue garden hose. Be on the lookout for small children selling products door-to-door.
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This isn't me! What am I?
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Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
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"Old age isn't so bad when you consider the alternative. " -- Cato, Roman orator
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