Basic Edexcel Business and Economics for Market Structures (unit 2b)

Basic Edexcel Business and Economic notes for AS Unit 2b from the year 2012 on market structures. 

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  • Created on: 16-05-12 19:11
Preview of Basic Edexcel Business and Economics for Market Structures (unit 2b)

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Monopoly Supernormal Control of High
when 1 firm dominates the market No profit price or of barriers
Monopsony output but not to entry
100% pure monopoly n
power both and exit
25% working monopoly
Potential for
oligopoly collusions/hig High
when several large firms dominate Non price Price Highly
h profit barriers
the market competitio setters/leader differentiate
to entry
n Strategic s d products
and exit
most common type behaviour
Monopolistic Possibility of
Similar but
Many firms in the market offering Some control barriers
abnormal not identical
slightly differentiated products all over price to entry
profits products
competing of exit
Noone firm is
big enough to No
A lot of Product is
Perfect competition competitio Normal profit influence barriers
many buyers and sellers price to entry knowledge
n s
or exit
Price takers


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