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- There are five types of market structures12:
- Perfect competition: Many firms, freedom of entry, homogeneous product, normal profit.
- Monopoly: One firm dominates the market, barriers to entry, possibly supernormal profit.
- Oligopoly: An industry dominated by a few firms, with interdependence among them.
- Monopolistic competition: Freedom of entry and exit, but firms have differentiated products.
- Monopsony: A market with only one buyer.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Different types of market systems and structures
- 1. Perfect competition
- 2. Monopoly
- 3. Monopolistic competition
- 4. Oligopoly
- 5. Monopsony
www.indeed.com/career-advice/career-developme…Types of market structure
- Perfect competition – Many firms, freedom of entry, homogeneous product, normal profit.
- Monopoly – One firm dominates the market, barriers to entry, possibly supernormal profit. Monopoly diagram
www.economicshelp.org/microessays/markets/ - People also ask
Understanding the 5 Types of Market Systems and Structures
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