Market Structure Stuff and Things
jon k redinger p4 march 2, 2015

OVERVIEWS(PRO/CON/EXAMPLE AND CHARACTERISTICS)

Monopolistic Competition - occurs when many sellers offer similar but not standardized products

Advantages:

Promotion of competition due to lacking barriers of entry

Differentiation of product brings larger consumer choice and variety

Has incentives for high product and service quality

Consumers are more knowledgeable of products

Disadvantages:

Higher prices as a result of having market power

Advertising and marketing, liable to public manipulation

Oligopoly - A market structure in which only a few sellers offer a similar product

Advantages:

Huge profits for the few producers

Lowers average cost of production

Stable prices

Disadvantages:

High barrier of entry

Prices may be disadvantageous for the consumers

Small businesses struggle in the face of the dominant players

Natural Monopoly - occurs when the costs of productions are lowest with only one producer, such as a water company

Advantages:

Most efficient when number of firms is one

Disadvantages:

Typical will have very high fixed costs

Geographic Monopoly - exists when there are no other producers within a certain region, such as professional sports

Advantages:

One entity is the sole provider of a good or service in a local area or region

Disadvantages:

No other consumer options

Manipulate prices accordingly

Technological Monopoly - occurs when a firm controls a manufacturing method, invention, or technology, such as the polaroid

Advantages:

Single firm controls methods to create a product

Exclusive rights to manufacture

Disadvantages:

Legal stipulations prevent other groups from taking the same actions

Restricts consumer access to variety in producers

Government Monopoly - exists when the government owns and runs the business or authorizes only one producer, such as the US Postal Service

Advantages:

Provides goods and services that either could not be provided by private firms or are not attractive to them because of a lacking profit opportunity

Disadvantages:

The monopoly sets the price and supply at whim without any concern for competition

HYPERLINKS

SOURCES

Comment Stream

View Older Posts
2 years ago
0

Covered all the important points, but I feel the purple background does not mesh well with the white background of the text.

2 years ago
0

love the title.

2 years ago
0

I actually really like the purple background. Your site is simple and gives me the facts and points in an easily readable manner. 😎

2 years ago
0

clear advantages and disadvantages, but I would've liked to see more explanations and pictures.

2 years ago
0

The advantages and disadvantages are great but you were lacking a little in the characteristics of each.

2 years ago
0

You have a lot of really good information but you could have had more visuals. You also could have integrated the hyperlinks better.

2 years ago
0

Clear, well-organized information. Putting more pictures instead of graphs would be helpful also. Overall, great website. 😄

2 years ago
0

very good very good

2 years ago
0

It's okay but you are missing the characteristics.

2 years ago
0

Your background color is extreme 😁 But you had a lot of information