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Transcript of Market Structure
-Large number of sellers
-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)
- Few large profitable firms
-A lot of influence over price
-A little bit product differentiation/none
-Difficult to entry into the market
- 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
-Influence over price: Total control
-No product differentiation
-Almost impossible to entry into the market
-Control of resources
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.
Common stocks represent the lowest tier of ownership, and are widely available. The Foreign Exchange Market, in which participants buy and sell foreign currencies.
The music entertainment industry is dominated by Universal Music Group, Sony, BMG, Warner and EMI Group.
Sony: Discographics, TVs, mobile phones..
Fruits, vegetables, meat...