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Market Structure

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by

Inés Cifuentes

on 4 April 2017

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Transcript of Market Structure

Logo
-Large number of sellers
-Product differentiation
-Freedom of entry and exit into the market
-Some influence over price
-Similar products but not identical

Examples: Different types of chocolate, cereals, coffee... (Nesquick)
OLIGOPOLY
- Few large profitable firms
-A lot of influence over price
-A little bit product differentiation/none
-Difficult to entry into the market

Market Structure
PURE MONOPOLY
- Many sellers
-Products are identical to their competitors's
-Individual firms must accept the market price
-Freedom of entry and exit into the market. No obstacles
PURE
COMPETITION
MONOPOLISTIC COMPETITION
-Single seller
-Influence over price: Total control
-No product differentiation
-Almost impossible to entry into the market
-Legal barriers
-Control of resources
EXAMPLE:
United States Postal Service (USPS). We have all heard that the Postal Service is losing money. According to a report published in 2014, the USPS lost a staggering $2 billion dollars in just 3 months, despite cutbacks in service.
Example:
Common stocks represent the lowest tier of ownership, and are widely available. The Foreign Exchange Market, in which participants buy and sell foreign currencies.


Example:
The music entertainment industry is dominated by Universal Music Group, Sony, BMG, Warner and EMI Group.
Sony: Discographics, TVs, mobile phones..
AGRICULTURAL MARKETS
Fruits, vegetables, meat...
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