Understanding the market

The broad economic concept that refers to all transactions between buyers and sellers, regardless of location.

The framework that defines the level of competition among firms in an industry.

The factor that determines how easily firms can enter or leave a market.

The market structure where firms produce slightly differentiated products, leading to brand loyalty.

A type of legal monopoly which by chance- is the only establishment existing within the location

A type of competition where a single company dominates the market with no close substitutes.

The market structure in which many sellers provide identical goods, preventing any single firm from influencing prices.

A market scenario where a few dominant firms hold the majority of market power, often leading to strategic decision-making.

One of the key factors defining market structure, related to the influence and number of consumers in the market.

A non-competitive, secret, and sometimes illegal agreement between rivals that attempts to disrupt the market prices.