Market Structures

maddiemurchie23
Mind Map by , created over 6 years ago

Business Studies Mind Map on Market Structures, created by maddiemurchie23 on 04/17/2013.

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maddiemurchie23
Created by maddiemurchie23 over 6 years ago
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Market Structures
1 Oligopoly
1.1 Characteristics
1.1.1 Few suppliers
1.1.2 Concentration ratio e.g. 3 companies have 75% of the chocolate market
1.1.3 High barriers of entry
1.1.4 Inter-dependance which could lead to cozy competition but potential for price wars
1.1.5 Non price competition
1.1.6 Formal conclusion is illegal
1.2 Example: Supermarkets
1.2.1 Strongly branded
1.2.2 High start up costs
1.2.3 5/6 main ones
1.2.4 80% of the market
1.2.5 Evidence they are very price competitive?
1.2.5.1 Charity work?
1.3 More examples: petrol, banking, cars, airplanes (bowing and airbus)
2 Monopoly
2.1 Characteristics
2.1.1 High prices
2.1.2 Very high barriers of entry
2.1.3 Single supplier
2.1.4 High market share
2.1.5 Slack (bad service)
2.2 Example: Hawkins (school uniform)
3 Monopolistic Competition
3.1 Same as perfect competition
3.1.1 Differentiated products
3.2 Example: Hairdressers
4 Competitive (perfect competition)
4.1 Characteristics
4.1.1 Low barriers to entry
4.1.2 Low prices
4.1.3 Many suppliers
4.1.4 Price competition
4.1.5 Homogenous products
4.2 Example: Taxi driver

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