The number of firms that are producing identical products which are homogeneous called market structure. In this presentation, I've listed some of the important topics and basic concepts of the market structure.
Market Structures are determined by the behavior, density
and size of buyers and sellers in a market. We have
multiple buyers and sellers in a marketplace which leads to
competition and influence the supply and demand of any
commodity or product.
There are different types of market structures like in some
industries there are a limited suppliers for particular goods
Entry into this market may be restricted due to patents,
government regulation or the sheer size of investment
required to start producing,
it also can be related to the technology which the
So they have huge control and
influence over the prices and
supply. The buyer has no
choice but to accept whatever
quality they are offered. Very
similar to this condition is
Monopoly, in this market
structure there is only one
seller or producer.
There other form of market
structure is oligopoly. In this
too there are limited
suppliers and entry barriers
are steep. The price war
cannot be sustained in this
type of market structure as
the products are almost
identical. The cola giants
Pepsi and Coco cola market
structure can be considered a
near example of oligopoly.
These are examples of
extreme market structures.
There are a variety of products and substitutes available.
Entry and exit barriers are low or absent. Prices are
governed by supply and demand.
Market structures can be a difficult
topic if economics basics are not clear.
It involves concepts of
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MARKET STRUCTURE ECONOMICS