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economics paper 1
market structures
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Duru Kulac
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Cards (4)
Market structure
The spectrum of competition ranging from
perfect
competition at
one end
of the spectrum to
pure monopoly
at the
other end
of the spectrum
Factors used to distinguish between different market structures
Number of
firms
Degree of
product differentiation
Ease of
entry
Define market structures
The
organisational
and other
characteristics
of a market
How to differentiate between different market structures
1. Number of
firms
2.
Product
differentiation
3. Market barriers to
entry
and
exit
