COURSEWORK in 2PSCOC12 – The Different Market Structures

A market refers to buyers and sellers who through their association build the cost of a good or service. A market structure could then be seen as the
characteristics of a market that impact the behaviors and results of the organizations working in that market; it refers to how different industries are
classified and differentiated based on their degree and nature of competition for services and goods. Listed below are guide questions that will aid
you in identifying and understanding the different market structures. Please list down your reference.
MARKET Perfect Competition Monopolistic Oligopoly Monopoly
STRUCTURE Competition

How much control over

price does each firm
have?

How many firms are

competing in the market?

How large/what size are

each of the firms?

What are the

characteristics of the
products in each market?

How easy is it for new

firms to enter the market?

What example can you

give?

Reference: