Examlex
____ inflation occurs when aggregate demand expands so much that equilibrium output exceeds full employment output and the price level rises.
Barriers to Entry
Economic, procedural, or regulatory obstacles that prevent new competitors from easily entering an industry or area of business.
Monopolistically Competitive
In a monopolistically competitive market, many firms sell products that are similar but not identical, allowing for some degree of market power and price setting.
Highly Concentrated
Refers to a situation or market in which a few entities or businesses hold a large majority of market share or influence.
Market's Domination
A condition in which one or more firms hold a significant share of the total market sales, limiting competition and possibly leading to higher prices or lower quality for consumers.
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