Mind map
Different Market Structures
Mind map: Different market structures
Map content
Different Market Structures
Monopolies
- Where one firm has complete control over the market
- Full market power and consumers have no choice than to buy the product from the monopolist
Oligopoly
- Few big firms dominate the market
- Market power of 25%
features of perfect comepetitive market
- Homogenous products
- Perfect information
- Price takers
- No barriers to entry or exit