Competitive markets - created from Mind Map

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Perfect competition

Imperfect competition

Perfect competition in a market means that none of the agents can influence the price of the good or service.

Free concurrence

Homogeneous product

Perfect information

Absence of entry or exit barriers

The Entities promote free access and participation of suppliers in the contracting processes they carry out, avoiding costly and unnecessary requirements and formalities.

It is a perfectly competitive market where buyers will choose the product of any of the bidders.

We would be talking about a perfectly competitive market where buyers will choose the product of any of the suppliers.

Anyone can enter the business if they wish to do so, or leave it, without a large deployment of resources.

Imperfect competition is because there is a great influence of companies to manipulate the price of products, thus obtaining surplus profits.

Monopoly

Oligopoly

Monopolistic competition

Monopsony

Oligopsony

It is a market structure in which there is a single supplier of a certain good or service, i.e., a single company dominates the entire supply market.

It is a market structure in which there are few relevant competitors and each of them has some ability to influence the equilibrium price and quantity.

In this, there is a high number of sellers in the market who have a certain power to influence the price of their product.

It is a market structure in which there is only one buyer or buyer. While there may be one or more suppliers.

It is a type of market in which there are few demanders, although there may be a large number of suppliers.