Unit 5 Assessment - Market Structures.docx - Unit 5 Assessment Market Structures Ramla Ali There are four basic types of market structures The types

Unit 5 Assessment - Market Structures.docx - Unit 5...

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4/5/2020 Ramla Ali Unit 5 Assessment - Market Structures
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There are four basic types of market structures. The types include perfect comepetition, monopoly, monopolistic competition, and oligopoly. First thing that different is the number of sellers that they have. Monopolistic competitive and perfect competition market have large number of sellers. The oligopoly market has a few big sellers. While the monopoly market only has one seller. Also the entry and exist if firms are different between the types of market structures. The perfect competition and monopolistic competition are free to enter or exist the market as long as they want. While the monopoly and oligopoly form of markets have barriers on the entry and exit of firms. Another difference that is seen is that the they have different types of products. The perfect competition markets sell the same kind of products which are identical. While the monopolistic firms sell different products for an example of different hand sanitizers.
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