Market Structure

Market Structure Various Forms of Market Structure Depending on how we want to examine at market organise as an economist or marketer, our goal is defining and predicting consumer behavior. However, from a marketing standpoint, marketers have an added origination of competitive strategies. In this report the following forms of market structure get out be outlined: A Monopoly, An Oligopoly, Competition in a Monopolistic Competition, and A Perfect Competition. The report will define how these structures interact with characteristics relating to the strengths of buyers and sellers. When we define Characteristics of the market we speak of a distinguishing feature or quality that each structure possesses. However, more or less structures may include identical characteristics. The characteristics charted out in the graph below correlate with the 4 main Market structures. MarketStructure| Characteristics| | figure of speech of Sellers| Number of Buyers| Barriers to Entry| Entry and Exit Activity| HomogeneousOr DifferentiatedProduct?

| minute or PerfectCompetition| Many Firms| Many Buyers| None| Yes, firms have the independence to enter and exit| Homogeneous product, all goods are immaculate substitutes for consumers| MonopolisticCompetition| Many firms with non-interdependent pricing and quality decisions | Many Buyers| VeryLow| Yes, firms have the liberty to enter and to exit| Differentiated products, but close substitutes for consumers| Oligopoly| a few(prenominal) firms with interdependent pricing and quantity decision| Unspecified| spunky| Difficult entry (often due to economies of scale)| Products can be both differentiated or non-differentiated| Monopoly| Single seller| Unspecified| cop| Entry Blocked| A single, homogeneous product with no close substitutes| MarketStructure| Characteristics| | Short RunProfits?| Long Run Profits?| damage Taker or Price Searcher?| Draw the demand weave facing the firm|... If you want to get a abundant essay, order it on our website: Orderessay

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