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TYPES OF COMPETITION Introduction to Business 2/2009
MARKET STRUCTURE PERFECT MONOPOLISTIC OLIGOPOLY MONOPOLY
PERFECT
PERFECT
MONOPOLISTIC
MONOPOLISTIC
OLIGOPOLY
OLIGOPOLY
MONOPOLY
MONOPOLY A monopoly is a company that dominates and controls a specific industry.
QUESTIONS & ANSWERS  From Wal-Mart ‘s case study
 1. What industry Wal-Mart is competing in?  GENERAL MERCHANDISE RETAILING INDUSTRY
2. Which market structure should Wal-Mart be considered?  Monopolistic According to theory ,[object Object]
It is easy to be general merchandise retailers.
 Wal-Mart can control over the price by dumping it downwhile others(small retailers) cannot.
The products are differentiated by product testing tactics to let the customers perceived that they are  The new, improved Great Value products  and redesigning Great Value packaging graphicsalthough it may be still similar or same.,[object Object]
3. Which determinant of demand/supply is affected causing change in demand/supply of products in the general merchandise industry? How? Explain and draw the diagram to illustrate the effect.  PRICE DETERMINANT

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