Market Structures characteristics of the market structures e.g oligopoly , monopoly 2.0 / 5 based on 1 rating ? EconomicsCompetitive marketsA2/A-levelAll boards Created by: QuinchedCreated on: 27-03-12 09:54 Key characteristics of MARKET STRUCTURES Numbers of firms in the market Size of the market Barriers to entry and exit ? Differentiated or Homogenous product ? Perfect or Imperfect knowledge ? The extent to which the actions of one firm will affect another firm 1 of 3 Types of MARKET STRUCTURES Perfect competition Monopoly Oligopoly Monopolistic competition 2 of 3 PERFECT COMPETITION Many BUYERS and SELLERS in the market Price TAKERS LOW barriers to entry and exit PERFECT knowledge Homogenous product 3 of 3
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