UNIT 5-ECON & PF

The organization of a market, based mainly on the degree of competition.

• Market Structure

• Business Entities

• Market Climate

• Marketing Plan

Economic market structures can be grouped into four categories: Perfect Competition, Monopolistic Competition, _____________, Monopoly.

• Duopoly

• Oligopoly

• Cartel

• Collusion

Has the largest number of buyers and sellers in the Market.

• Monopolistic Competition

• Oligopoly

• Perfect Competition

• Monopoly

In this market there is no price control.

• Monopoly

• Oligopoly

• Cartel

• Perfect Competition

This market structure has the presence of many companies.

• Monopolistic Competition

• Cartel

• Duopoly

• Oligopoly

In this market structure the company produces similar but differentiated products.

• Oligopoly

• Monopolistic Competition

• Cartel

• Monopoly

Has high barriers to entry for all new participants but not the highest.

• Perfect Competition

• Oligopoly

• Monopoly

• Cartel

In this market structure there are higher profits for companies.

• Perfect Competition

• Oligopoly

• Monopoly

• Cartel

Has the lowest number of firms in the industry. Usually one.

• Monopoly

• Oligopoly

• Perfect Competition

• Monopolistic Competition

The types of goods in this market structure are very very unique.

• Collusion

• Cartel

• Monopoly

• Perfect Competition