Market Structures

Monopolistic Competition-

Characteristics- Type of imperfect competition such that many producers sell products that are defferentiated from one another.

Advantges- No sigificant barriers to enter or exit the market, Creates diversity in the market.

Disadvantges- Creates unnessacry waste

Examples- Toothpaste, toilet paper and other toiletries.

Oligopoly-

Characteristics- Is a market form in which a market or industry is dominated by a small number of sellers.

Advantges- Companies have full control of their prices. Lowers the average price of goods.

Disadvantges- New firms can't enter the market due to spefic barriers.Companies may not improve their products due to little competition.

Examples- Movie studies, Wireless phone providers.

Monopoly-

Advantges- Avoids duplication of products, profits can be used for research and development and can invest in new technology to aviod competiton.

Disadvantges- Poor level of service, no consumer soverignty and charged with high prices for low quality products.

  • Natural-  type of monopoly that exists as a result of the high fixed or start-up costs of operating a business in a particular industry. I.E : Sewage, Public utilities.
  • Geographic- Occur when one company offers goods in that region or aera. I.E: Super markets, Eletrical companies.
  • Technological- occur when the good or service the company provides has legal protection in the form of a patent or copyright for a invention or type of manaufacturing method. I.E: Pharmacuteicuals, technological companies.
  • Government- a government will pass laws reserving a specific trade, product or service for government agencies. I.E: USPS, Public Schools and Cable Service.
  • Sources: ehow, investopia, econ.yale.edu
Sewage treatment plants (Natural Economy)
Cable service providers (Governement monopoly)
Pharmaceutical companies (Technological monopoly)
Super Markets (Geographic monopoly

Comment Stream

2 years ago
0

Great examples and the content for what was there was great. However there was no basic overview for the market structures. Other than that it was great

2 years ago
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Overall this was a great website, the separation between the images and the text however was a bit strange, and there is a lack of content in some categories.

2 years ago
0

You need to correct the spelling/grammar mistakes, and some of the examples didn't really fit:

2 years ago
0

Other than some information being wrong this was done pretty well.

2 years ago
0

Sparse with just a ton of photos at the end

2 years ago
0

Cable service provides would be a geographic monopoly, and the picture used for supermarkets is of food producing coorperations

2 years ago
0

-shiflett

2 years ago
0

I think if you would have connected the examples and your explanations it would have flowed better

2 years ago
0

You had a bunch of really good pictures, but it would've looked better if they had been interspersed rather than focused at the end.

2 years ago
0

The pictures were good examples, but they would have been better if they were distributed throughout the website instead of at the bottom