Market types - created from Mind Map

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Oligopoly

Monopoly

Duopoly

Monopsony

NOT COMPETITIVE MARKETS

COMPETITIVE MARKETS

Competitive markets are composed of buyers and sellers who in turn are the ones who offer and purchase goods and services.

Few producers

Is a market structure where few competitors exist

Competitors have market power

A buyer

offers a certain product for which there are no substitutes or there is no product that can match it.

Two producers

characterized mainly by the existence of two production companies, one of which is the

One buyer

A market in which suppliers and demanders have the power to determine prices and quantities of goods and services.

A competitive market is one that has many buyers and sellers working with identical products.