Market Structures

Monopolistic Competition | Oligopoly | Monopoly | Geographic Monopoly

Monopolistic Competition

Overview: When companies attempt to fill a niche by selling very similar, if not rebranded products.

Characteristics: Innumerable companies and products that are very similar but with a few differences. The huge number of options is fairly daunting to a consumer especially with only slight differences.

Advantages:

  • A lot of options for consumers.
  • Low point of entry.
  • Heavy amount of price competition, keeping prices down.

Disadvantages:

  • Little quality control.
  • Takes advantage of uninformed consumers.

Oligopoly

Overview: When just a few companies control the market for a particular good.

Characteristics: Generally only a few companies selling a product that has slight variations. There tends to be a heated arms race between these companies.

Advantages:

  • Constant improvements in technology and products.
  • Lots of quality control.
  • Assured quality and trustworthiness of source.
  • Consumer rivalries.

Disadvantages:

  • High point of entry.
  • Un-regulated prices.

Monopoly

Overview: When a single company controls the market for a product or good.

Characteristics: A single, often large, company controls the supply or the production of one good. Generally, they’re conglomerates or cartels that don’t have a lot of ‘branding’ per say.

Geographic Monopoly

Overview: When a few companies agree on controlling areas of land to act as individual monopolies.

Characteristics: Divided up services such as water and electricity, that only sell their services to particular areas. There are often agreements between these companies or geographic barriers that aid in keeping the Monopoly in place.

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Sources

Comment Stream

2 years ago
0

I really like the graphic you chose for De Beers and the diamond monopoly. I don't think you have all the different types of monopolies, but what you do have is laid out well.

2 years ago
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Its really well organized and neat. I love your examples too.

2 years ago
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Nicely structured, everything is good looking.

2 years ago
0

Holy 🐮 , it was very well organized and I really like all the information you provided. Well done

2 years ago
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This was extremely informative. I loved your images and examples.

2 years ago
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🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉 🐉

2 years ago
0

I like the balance between the text and pictures.