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| Topic: |
Business
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| Number of pages / Number of words: |
4 / 843 |
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Perfect competition is when the market consists of a very large number of firms producing a homogeneous product. Monopolistic competition which is also called competitive market, where there are a large number of independent firms which have a very small proportion of the market share. Oligopoly is when a market is dominated by a small number of firms which own more than 40% of the market share...
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Oligopoly is when a market is dominated by a small number of firms which own more than 40% of the market share. Oligopsony is when a market is dominated by many sellers and a few buyers. Monopoly is when there is only one provider of a product or service. Natural monopoly is a monopoly in which economies of scale cause efficiency to increase continuously with the size of the firm...
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General points of the essay
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