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BAC Module 9

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69 views2 pages

BAC Module 9

Uploaded by

Gerelyn Peñez
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Module 9 – MARKET STRUCTURE

1. Explain the forms of market structure and give two examples each.
► The forms of market structure includes;

a) Perfect Competition
- In a perfect competition market structure, there are a large number of
buyers and sellers. All the sellers of the market are small sellers in
competition with each other. There is no one big seller with any
significant influence on the market. So all the firms in such a market
are price takers.·
Examples:
· Agriculture - carrots, potatoes, and grain

· Online Shopping - Shoppee, Amazon, and Lazada

b) Monopolistic Competition
- In monopolistic competition, there are still a large number of buyers as
well as sellers. But they all do not sell homogeneous products. The
products are similar but all sellers sell slightly differentiated products.
Examples:
· Fast Food Company - McDonald and Burger King
· Hairdresser

c) Oligopoly
- An oligopoly market consists of a small number of large companies
that sell differentiated or identical products. Since there are few players
in the market, their competitive strategies are dependent on each other.
Examples:
· Mobile Phones - Huawei, Samsung, and Apple
· Motor Vehicles - Toyota and Ford

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d) Monopoly
- In a monopoly market, a single company represents the whole
industry. It has no competitor, and it is the sole seller of products in the
entire market. This type of market is characterized by factors such as
the sole claim to ownership of resources, patent and copyright, licenses
issued by the government, or high initial setup costs.
Examples:
· Meralco
· Microsoft and Windows

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