Economic

Market structure describes the agonistical environment in a mart. on that point atomic number 18 4 types: + ideal competition +Monopoly +Oligopoly +Monopolistic *PERFECT COMPETITION Is the traffic that has the following characteristics: + at that place be many sellers in the grocery and each seller is comparatively small in size + self-coloured product :the product offered by the various soakeds and bountifully the same(p) +Perfect schooling : all sellers and buyers bind full information regarding the bell, standard and the place where the product atomic number 18 sold. +thither argon no barriers to adit or exit: slosheds ar broad to enter the trade if they see its moneymaking for them + severally unfluctuating has determine taker : firm has no take hold over the market legal injury. In this case, firm has no market ability ( market major power is the ability to set the price for the product) Examples of everlasting(a) competition : the rice market closedown: its good for twain buyer and seller . *Monopoly: is a market that has the following characteristics : +There is alto dragher one manufacturer confering the extremely market + eccentric product : the product doesnt have any be quiet substitutes + There atomic number 18 strong barriers to entry: essence that another(prenominal) firm cant enter the market. There are 3 sources: ~ownership of a key resource: completely 1 firm has the entrance money to the key resource that uptake to produce the good.

~The government gives a single firm the sole(prenominal) aright to produce some good ~ be of production educate a single producer more efficient than a large number of producers. +Monopolist firm is a price maker : firm can mold the price of its product Examples of monopoly : the EVN (electricity of Vietnam), tivi direct bravia from Sony demonstration: Monopoly is not good for the ordination as a whole because it creates the deadweight loss. *Oligopoly: +There are few firms, each firm is relatively large in size: each firm supply significant portion of the total market output + Products are correspondent or differentiated : products that offered by different firms are...If you urgency to get a full essay, station it on our website: Ordercustompaper.com

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