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competition

Communities

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Communities A community is classified as all living things (different species), living in the same place at the same time Key Properties of a Community: Diversity: Includes two components: Species richness= Total number of different species in that certain community Relative Abundance= How many of each species population are present in the community Species Diversity= Describes how diverse a community is by considering species richness and relative abundance Prevalent Form of Vegetation Within a community certain types of plants are present as well as these plants being structured and located in a specific way, this arrangement determines what animals lives in this community.

Living in the Environment 16th Ed. : Ch.5 Key Terms

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Chapter 5 age structure A population?s age structure?the proportions of individuals at various ages?can have a strong effect on how rapidly it increases or decreases in size. biotic potential Species vary in their biotic potential or capacity for population growth under ideal conditions. carrying capacity (K) Together, biotic potential and environmental resistance determine the carrying capacity (K): the maximum population of a given species that a particular habitat can sustain indefinitely without being degraded. coevolution

Monopolistic Competition

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competing producers sell products that are differentiated from one another as good but not perfect substitutes such as from branding, quality, or location ?ignores the impact of its own prices on the prices of other firms Characteristics There are many producers and many consumers in the market, and no business has total control over the market price. Consumers perceive that there are non-price differences among the competitors' products. There are few barriers to entry and exit.[4] Producers have a degree of control over price Short Run firms can behave like monopolies in the short ru including by using market power to generate profit. ? Long Run ?the market becomes more like a perfectly competitive?one where firms cannot gain economic profit
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