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Perfect CompetitionMonopoly

Monopolistic CompetitionOligopoly

TOPIC : MARKET STRUCTURE

Those characteristics of the market that significantly affect the behavior and interaction of buyers and sellers.

The Meaning of CompetitionThe actions of any single buyer or seller in the market have a negligible impact on the market price.

–Number and size of producers and consumers

–Types of goods and services being sold.

–Availability of information about the products being sold.

–Conditions of entry and exit

What are the main criteria used to distinguish the different market structure?

Types Of Market Structure

1.Pure (perfect) Competition2.Monopoly3.Monopolistic Competition4.Oligopoly

Features of the four market structures

Features of the four market structures

Features of the four market structures

Features of the four market structures

Features of the four market structures

Features of the four market structures

Perfect Information1.Buyers and sellers have all the pertinent

information necessary for them to make decisions on buying or selling goods and services.

Examples of Perfect Competition :-

• Buyers and sellers in some auction-type markets, say for commodities.

• Street food vendors are also considered to be a part of a perfectly competitive market. Their products are homogeneous in nature, and they are priced accordingly. Consumers are free to make purchases at any vendor they prefer.

Monopoly

EXAMPLE :NATIONAL UTILITIES(WATER,ELECTRICITY ETC)

Monopolistic Competition

Product Differentiation

This is the most feature of monopolistic competition. Each product in this market is different from other product in some form or the other. The differences could be in its colour, shape, wrapper, etc.their products, though different, are close substitute to each other eg. Tide is close substitute to surf excel.

Demand Curve of the Seller

Due to product differentiation and availability of close substitute, demand curve is highly price elastic and downward sloping. It means a slight change in price of the product will bring about a change in quantity demanded.

Examples of Monopolistic Competition

Examples of Monopolistic Competition

Examples of Monopolistic Competition

Examples of Oligopoly Competition

ANY QUESTIONS

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By-Ishtiaque AhmedID : 004