Market structure


Features of market structures


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Market structure - Wikipedia



28.11.2020

Market structure - Wikipedia

https://en.wikipedia.org/wiki/Market_structure

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Karl Marx

Quick Reference to Basic Market Structures

Market

Structure

Seller

Entry &

Exit

Barriers

Nature of

product

Number

of

sellers

Number

of

buyers

Price

Perfect


Competition

No

Homogenous



Many

Many


Uniform

price as


their price

takers


Monopolistic

competition

No

Closely


related but

differentiated

Many

Many


Partial

control over

price

Monopoly


Yes

Differentiated

(No

Substitute)



One

Many


Price Maker

Duopoly


Yes

Homogenous

or

Differentiated



Two

Many


Price rigidity

due to price

war

Oligopoly



Yes

Homogenous

or

Differentiated



Few

Many


Price rigidity

due to price

war

Monopsony



No

Homogenous

or

Differentiated



Many

One


Price taker

(as there is

only one

buyer)


Oligopsony

No

Homogenous



or

Differentiated

Many

Few


Price Taker

The correct sequence of the market structure from most to least

competitive  is  perfect  competition,  imperfect  competition,

oligopoly, and pure monopoly.

The main criteria by which one can distinguish between different

market  structures  are:  the  number  and  size  of  firms  and

consumers  in  the  market,  the  type  of  goods  and  services  being

traded,  and  the  degree  to  which  information  can  flow  freely.  In

today's  time,  Karl  Marx's  theory  about  political  influence  on

market  makes  sense  as  firms  and  industry  are  affected  strongly

by  the  regulation,  taxes,  tariffs,  patents  imposed  by  the

government.  These  affect  the  barriers  to  entry  and  exit  for  the

firms in the market.

Industrial organization

Microeconomics

Economics

Herfindahl index

Structure-conduct-performance paradigm



See also

References


28.11.2020

Market structure - Wikipedia

https://en.wikipedia.org/wiki/Market_structure

4/4


1. Kenton, Will. 

"Karl Marx" (https://www.investopedia.com/terms/k/karl-marx.asp)

Investopedia.

Retrieved 2020-11-05.

2. Mirman, Leonard J.; Salgueiro, Egas; Santugini, Marc (2015-09-08). 

"Learning in a Perfectly

Competitive Market" (https://papers.ssrn.com/abstract=2501419)

. Rochester, NY.

3. Bykadorov, I.A., Kokovin, S.G. & Zhelobod’ko, E.V. Product diversity in a vertical distribution

channel under monopolistic competition. Autom Remote Control 75, 1503–1524 (2014).

https://doi-org.ezproxy.library.uq.edu.au/10.1134/S0005117914080141

4. Cominetti, Roberto; Correa, José R.; Stier-Moses, Nicolás E. (2009-06-03). 

"The Impact of

Oligopolistic Competition in Networks" (https://pubsonline.informs.org/doi/abs/10.1287/opre.1080.

0653)

Operations Research57 (6): 1421–1437. 



doi

:

10.1287/opre.1080.0653 (https://doi.org/10.



1287%2Fopre.1080.0653)

ISSN



 

0030-364X (https://www.worldcat.org/issn/0030-364X)

.

5. 


"Duopoly" (https://www.intelligenteconomist.com/duopoly-market-structure/)

Intelligent



Economist. 2019-04-15. Retrieved 2020-11-05.

6. 


Body of Knowledge on Infrastructure Regulation (http://www.regulationbodyofknowledge.org/mark

et-structure-and-competition/)

 “Market Structure: Introduction.”

 Media related to Markets at Wikimedia Commons

Microeconomics (http://www.egwald.ca/economics/index.php) by Elmer G. Wiens: Online

Interactive Models of Oligopoly, Differentiated Oligopoly, and Monopolistic Competition

Retrieved from "https://en.wikipedia.org/w/index.php?title=Market_structure&oldid=990205596"

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