Market Structures

Adriana Hernandez

Different Market Structures

Monopolistic Competition

-many sellers offer similar but not standardized products

Characteristics

1) Many Sellers and Sellers

2) Similar but Differentiated Products

3) Limited Control of Prices

4) Freedom to Enter or Exit Market

Monopoly

Types of Monopoly

Natural Monopoly

- cost of products are lowest when one firm provides the output

-Ex. Water Company or Internet Providers

Government Monopoly

-government owns/runs a business or only lets one produce a certain product

-Ex. Postal Service

Technological Monopoly

-firm controls manufacturing methods of an invention or type of technology

-some company have patents to give them the only right to the product

-Ex. Polaroid

Geographical Monopoly

-no other producers/sellers in a certain area or region

-Ex. One general store in a certain area

Oligopoly

-few sellers offer a similar product

Characteristics:

Ex.- Cell Phone companies

Sources

Comment Stream

2 years ago
0

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2 years ago
0

Good information. Very bright and inviting. Well resourced. Good job. :)

2 years ago
0

Your content is a little lacking but good pictures and charts.