TYPES OF MARKET
PERFECT COMPETITION-
It is market structure which consists of many different buyers and sellers. In this scenario a single firm does not have any significant market power .
Example- Agricultural markets. In some cases There are several farmers selling identical products to the market ,many buyers at the market it is easy to compare prices.
2) MONOPOLISTIC COMPETITION
It is a market structure which consists of a large number of small Firms which compete against each other.
EXAMPLE
Monopolistic competition is a market of a cereals, there is a huge number of different brands hich probably taste slightly different but at the end of the day they are all breakfast cereals
3) OLIGOPOLY
An oligopoly describes a market structure which is dominated by only a small number of firms
EXAMPLE-
Let's look at the market for gaming consoles this market is dominated by twotwo powerful companies like Microsoft ,Sony . This leaves
all of them with a significant amount of market power
MONOPOLY
It refers to a market structure where a single firm controls the entire market.
PERFECT COMPETITION-
It is market structure which consists of many different buyers and sellers. In this scenario a single firm does not have any significant market power .
Example- Agricultural markets. In some cases There are several farmers selling identical products to the market ,many buyers at the market it is easy to compare prices.
2) MONOPOLISTIC COMPETITION
It is a market structure which consists of a large number of small Firms which compete against each other.
EXAMPLE
Monopolistic competition is a market of a cereals, there is a huge number of different brands hich probably taste slightly different but at the end of the day they are all breakfast cereals
3) OLIGOPOLY
An oligopoly describes a market structure which is dominated by only a small number of firms
EXAMPLE-
Let's look at the market for gaming consoles this market is dominated by twotwo powerful companies like Microsoft ,Sony . This leaves
all of them with a significant amount of market power
MONOPOLY
It refers to a market structure where a single firm controls the entire market.
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