Download presentation
Presentation is loading. Please wait.
Published byMarybeth Jennings Modified over 6 years ago
1
Market Structures On a post-it, write... Standard: SSMI4c
Turn notebook sideways and label page 31... Market Structures On a post-it, write... Standard: SSMI4c GOALS: Be able to identify basic characteristics of the 4 market structures.
2
A few vocab before we get started.
What is a market structure? Market structure= the nature & degree of competition among firms doing business in the SAME industry
3
Market Structures Follow my instructions for the notes page covering market structures.
4
Write Perfect Competition on outside flap
Define: structure w/many well informed & independent buyers & sellers who exchange identical products # of Firms: many firms w/ NO influence over the price Product Differentiation: identical product
5
Product Differentiation...
How different is the product from one firm to another in the same industry? Are the products IDENTICAL, SIMILAR or is there NO differentiation?
6
Perfect Competition Advertising: No advertising or brands b/c product is identical or the same. Market Entry: Buyers & sellers can easily enter or leave the market. Examples: “truck farming”--tomatoes, corn, cucumbers
7
Write Monopolisitc Competition on outside flap
Define: structure that meets ALL conditions of perfect competition except identical products # of Firms: many Product Differentiation: SIMILAR products
8
Monopolistic Competition
Advertising: Non-price competition advertising, giveaways, promotions… VERY IMPORTANT Market Entry: Easy Examples: designer clothing, cosmetics, shoes, jeans
9
Write Oligopoly on outside flap
Define: structure in which a FEW large sellers dominate the industry # of Firms: few Product Differentiation: product may have distinct features; fair amount of differentiation between products
10
Oligopoly Advertising: most tend to mimic each other in market & pricing; compete by enhancing their product (new/different) collusion=price fixing Market Entry: can be very difficult to enter Examples: cell phones, music companies, healthcare providers
11
Write Monopoly on outside flap
Define: structure with a SINGLE seller of a particular product # of Firms: 1 Product Differentiation: NONE--its the only product out in the market
12
Monopoly Advertising: no advertising--because NO competition
Market Entry: nearly IMPOSSIBLE Examples: water
13
Market Structures Perfect Competition Monopolisitc Oligopoly Monopoly Competition Most Competitive Least Competitive
Similar presentations
© 2025 SlidePlayer.com. Inc.
All rights reserved.