Market structures Description
This is a type of market that features one, if not all, of the characteristics of a monopoly such as supply constraints, high price levels or excessive entry barriers. Due to the type of market, it mainly entail of a single supplying firm and consumers can only buy from this single firm. Without good control or legislation, this firm has the power to increase prices without adversely impacting demand for its services/products. This kind of market is in contrast to a perfectly competitive market.Oligopolistic market
This is a situation where a certain market is controlled by a Continue reading...