ECO 212 Week 3 LTA Differentiating Between Market Structures Paper

Apr 16th, 2015
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Differentiating Between Market StructuresTeam B: NamesUniversity of Phoenix Differentiating Between Market StructuresThe four different market structures are public goods and private goods, natural monopolies and common resources. Thus, this paper will describe and compare each of these structures. Moreover, it will also take a look at the impact of labor supply and demand to the market equilibrium. To further clarify the concepts, a famous international organization will be studied. Kraft Foods will be studied in this paper, as well as how effective their market structure is in providing them success. The result of this paper showed that an organizational reorganization can lead to global success, too. In fact, Kraft Foods remains to be one of the largest companies that produces and distributes processed food. Comparing the Different Types of Market StructuresThe first market structure to be discussed is the public goods. In this market structure, there is no rivalry or competition and exclusivity. This means that even if an individual consumes a good, the rest of the individuals can still consume equal amount of goods, and these goods are naturally made for everyone's consumption. On the other hand, private goods need to be carefully distributed among individuals to ensure efficient consumption. Public goods are usually facilitated by the government, while the market is in-charge of private goods allocation. An example of public goods is national defense

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