Podcast Beta
Questions and Answers
“ meralco and Maynilad”– (One Seller and Many Buyers) - exist when a unique product or services is available from a single vendor and that the vendor can prevent the entry of all others into the market.
o Monopoly
“gas stations and teleservices”– (Few Sellers and Many Buyers / Sellers either compete or collaborate with each other.) exist when there are so few suppliers of a product or service that action by one will almost inevitably result in similar action by the others.
o Oligopoly
“nescafe and soft drinks”– (Sellers are the price settlers and Many Sellers and Many Buyers) - a large number of sellers and buyers. They do not sell identical products but are slightly similar.
o Monopolistic Competition
return of the capital or cost of using capital.
Signup and view all the answers
calculated using the principal only, ignoring any interest that had been gotten from preceding periods.
Signup and view all the answers
1 month-30 days 1 year- 360 days (banker’s year)
Signup and view all the answers
1 year- 365 days 1 leap year= 366 days
Signup and view all the answers
- interest of an interest period is calculated on the principal plus total amount of interest accumulated in the previous period. “the interest on top of interest”
Signup and view all the answers
cost of borrowing money
Signup and view all the answers
-specifies the rate of interest and a number of interest periods in one year.
Signup and view all the answers
Study Notes
Market Structure
- A market structure with one seller and many buyers exists when a unique product or service is available from a single vendor, and the vendor can prevent the entry of others into the market. (Example: Meralco and Maynilad)
- A market structure with few sellers and many buyers exists when there are only a few suppliers of a product or service, and action by one supplier will likely result in similar action by the others. (Example: Gas stations and teleservices)
Product Differentiation
- A market structure with many sellers and many buyers exists when there are a large number of sellers and buyers, and they do not sell identical products, but rather slightly similar products. (Example: Nescafe and soft drinks)
Time and Interest Calculations
- 1 month is equivalent to 30 days
- 1 year is equivalent to 360 days (banker's year) or 365 days (normal year), and 366 days in a leap year
- Interest on top of interest, also known as compound interest, is calculated on the principal plus the total amount of interest accumulated in the previous period
Cost of Borrowing Money
- The cost of borrowing money is specified by the rate of interest and the number of interest periods in one year
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Description
Learn about the concept of a monopoly market structure using the case of Meralco and Maynilad where a single vendor controls the supply of a unique product or service, with no other competitors in the market.
