Market Structure

Market Structure

Market structure

Market structure in economics is defined as the number of firms that are producing identical products. There different types of market structures, such as:

Monopoly

Monopoly is defined as a market structure that consists of only one provider of a product or service. There is no competition in the market for the product and the seller enjoys the entire market share.

Oligopoly

The market structure in which small firms work together to control the majority share of the market share

Monopolistic Competition

Monopolistic competition is the competitive structure in which large firms have small market share and they all are competing with each other ...