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11.5: Key Terms

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    181388

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    Example and Directions
    Words (or words that have the same definition)The definition is case sensitive(Optional) Image to display with the definition [Not displayed in Glossary, only in pop-up on pages](Optional) Caption for Image(Optional) External or Internal Link(Optional) Source for Definition
    (Eg. "Genetic, Hereditary, DNA ...")(Eg. "Relating to genes or heredity")The infamous double helix https://bio.libretexts.org/CC-BY-SA; Delmar Larsen
    Glossary Entries
    Word(s)DefinitionImageCaptionLinkSource
    acquisitionwhen one firm purchases another    
    antitrust lawslaws that give government the power to block certain mergers, and even in some cases to break up large firms into smaller ones    
    bundlinga situation in which multiple products are sold as one    
    concentration ratioan early tool to measure the degree of monopoly power in an industry; measures what share of the total sales in the industry are accounted for by the largest firms, typically the top four to eight firms    
    cost-plus regulationwhen regulators permit a regulated firm to cover its costs and to make a normal level of profit    
    exclusive dealingan agreement that a dealer will sell only products from one manufacturer    
    four-firm concentration ratiothe percentage of the total sales in the industry that are accounted for by the largest four firms    
    Herfindahl-Hirschman Index, HHIapproach to measuring market concentration by adding the square of the market share of each firm in the industry    
    market sharethe percentage of total sales in the market    
    mergerwhen two formerly separate firms combine to become a single firm    
    minimum resale price maintenance agreementan agreement that requires a dealer who buys from a manufacturer to sell for at least a certain minimum price    
    price cap regulationwhen the regulator sets a price that a firm cannot exceed over the next few years    
    regulatory capturewhen the supposedly regulated firms end up playing a large role in setting the regulations that they will follow and as a result, they “capture” the people usually through the promise of a job in that “regulated” industry once their term in government has ended    
    restrictive practicespractices that reduce competition but that do not involve outright agreements between firms to raise prices or to reduce the quantity produced    
    tying salesa situation where a customer is allowed to buy one product only if the customer also buys another product    

    This page titled 11.5: Key Terms was last modified on Sun, 21 Sep 2025 19:56:36 GMT and is shared under a CC BY 4.0 license and was authored, remixed, and/or curated by OpenStax via source content that was edited to the style and standards of the LibreTexts platform.