Different Market Structures : Forms, Formation and Facts

Feb 3rd, 2012
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Ashford University
Course: business studies
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Different Market Structures Two characteristics of the markets Real Life Example Competitive pressures Price Elasticity of demand and its effect on pricing Role of the government In a country usually there is seen existence of all kinds of markets. Different products exist in different markets. Customers’ needs goods from all this markets. There are specific pros and cons for every market. When a new business starts to implore in the market it needs to analyze the all market traits and needs to wise decision to cope with that market structure. There are different government interventions for different market forms. International trade also shapes the market form. Entry barriers and long or short run profitability is the motivating factor for the businesses. This study extends scope for the future researchers of in depth study with different economic variables with necessary algorithms from different market structures.

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Different Market Structures : Forms, Formation and FactsIntroductionMarket structure shapes the way of doing business for different business firms. In an economy usually there are seen four forms of market: perfect market, monopoly, oligopoly, monopolistic market etc. In this study a brief presentation of all these markets will be given with two major traits of each market. Real life example of each market will ease to understand market quite well. Entry barriers and its impact on long run profitability will be given emphasis. Competitive pressures and its impact on pricing will be discussed in brief. Price determination in form of competition from competitors will be analyzed. Government plays a major role in determining price when any company seems to rise as monopoly and try to imbalance market with their dominating role. International trade also affects the market structure. This study will also analyze other relevant issues of different market structures.Literature ReviewDifferent structures of market are seen in an economy i.e. perfect market, monopoly, monopolistic market, oligopoly etc. (Suranovic, 2010; Taylor, 2001; Parkin, 2000 ). In perfect market there are lots of buyers and sellers, lots of substitute, low entry barriers etc. The scenario is opposite in monopoly market. Here remain high barriers to entry for the new comers. The monopolistic market is the combination of perfect market and monopoly market. The oligopoly market is the p

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