SOSC 1340 Lecture Notes - Lecture 12: Monopsony, Externality, Oligopoly
5 Dec 2014
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Jan 25: distributed and plural: exercising power, even though some may not want these decisions made, creates conflict, determining who is more powerful, agenda setting: more powerful is unlimited to create agenda on their interests, unlike less powerful, counter factual: corporations can make an unconscious biases where power is put over people, unintentionally. Market control: the ability to influence prices, not by supply and demand pressures, market control gives a corporation to set prices the way best fit for their economic plans: monopoly: one company is the major seller, controls the prices, oligopoly: multiple companies controlling a market, monopsony: one company is the major buyer, controls supplier. Corporate governance: active: held by top management and executives, everyday decisions main source of power in a corporation, passive (or latent): board of directors, a lot of unknowns of business, and could have a bias, shareholders also may not know what is going on all the time.
