4/5/2020
Ramla Ali
Unit 5 Assessment -
Market Structures
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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- Fall '19
- Economics, Monopolistic Competition, Monopoly, Oligopoly, Perfect Competition, Assessment Market Structures
