MARKET TYPES

MARKET TYPES

1. Market types refer to the different ways in which markets can be classified according to different variables.

   • Perfect Competition Market
     • These are markets in which so many consumers, offers and brands interact that none of them is capable of influencing the price of products on its own. Competition is always the order of the day and goods and services are generally the same or similar.
   • Monopoly Market
     • They are commercial spectrums in which a single brand is responsible for the sale of a product or service. This situation is basically explained by the high number of entry barriers that are imposed on companies that aspire to compete
   • Monopsony market
     • We speak in this case of markets in which consumers have a leading role. That is, after their business decisions, they are able to change, or at least influence, the price of products. Obviously, for this to be the case, demand must be much higher than supply. Customers, therefore, have a very high bargaining power in this model.
   • Imperfect Competition Market
     • It is the intermediate market between monopoly and perfect competition. It can occur in two variants: either when there are many companies offering similar (not identical) products, or when there is a high number of buyers but few sellers