ACTIVITY 1.

NAME: ESTAVILLO, ALPHA THEA T. SECTION: BSBA 1A

Based on the discussion give 5 examples of the following:

Examples of Perfect Competition

Foreign exchange markets - Here currency is all homogeneous. Also, traders will have access
to many different buyers and sellers. There will be good information about relative prices.
Agricultural markets - In some cases, there are several farmers selling identical products to the
market, and many buyers. At the market, it is easy to compare prices. Therefore, agricultural
markets often get close to perfect competition.
Produce - Consider the situation at a farmer’s market, a place characterized by a large number of
small sellers and buyers.
Supermarkets - The situation may also be relatively similar in the case of two competing
supermarkets, which stock their aisles from the same set of companies.
Technology - The development of new markets in the technology industry also resembles
perfect competition to a certain degree. For example, there was a proliferation of sites offering
similar services during the early days of social media networks.

Examples of Monopolistic Competition

Fast Food Company - The Fast Food companies like the McDonald’s and Burger King which
sells burger in the market are the most common type of example of monopolistic competition.
Hairdresser - The service provided by the hairdressers in the market provides one of the most
famous types of the example of monopolistic competition.
Bakery Shop - There are certainly a lot of bakeries in any town and each one of them sells a
slightly differentiated product to the consumer in the market.
Restaurants - One can see that there are many restaurants in any town and each one of them
competes on the quality of food and prices of the product offered in the market.
Running Shoes Market - There are a number of brands if one is searching for running shoes
like Adidas, ASICS Nike, etc. The market of the running shoes seems to be in full competition
on the one hand as there are many brands present competing with each other as there are low
barriers to entry and exit.

Examples of Oligopoly
Aluminum production - In the U.S., the top two steel producers (Arconic and Alcoa) have
annual revenue in excess of ten billion dollars each.
Automobile manufacturers - The worldwide automobile manufacturing industry is dominated
by just 14 corporations.
Entertainment - Hollywood has long been an oligopoly, with a select few movie studios, film
distribution companies, and movie theater chains to choose from.
Book publishing - The book publishing industry is dominated by "the big five," which are
Penguin Random House, Hachette Livre, HarperCollins, Macmillan, and Simon & Schuster.
Oil and gas industry - The oil and gas industry is dominated worldwide by a few large
companies, often collectively referred to as "big oil." social media - The major social media
outlets (Facebook, Twitter, and Instagram) function as an oligopoly.

Examples of Monopoly
Luxottica – A company that owns all the major brands of sunglasses. The company has bought
almost all the major eyewear brands.
Microsoft – Microsoft is a Computer and software manufacturing Company. It holds more than
75% market share and is the tech space’s market leader and virtual monopolist.
Google - Google has become a household name and whenever we don’t know any answer,
probably googling is the answer. In addition, the company has grown into a web of services
interlinked like maps, Gmail, search engines, etc.
Facebook - Social media is the new market in the current century. While the users are offered
free services, the companies earn from the advertising revenue. With its huge portion of the
market share, Facebook almost has a monopoly in this business.
Railways - The government provides public services like the railways. Hence, they are a
monopolist because new partners or privately held companies are not allowed to run railways.
However, the price of the tickets is reasonable so that most people can use public transport.