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48511
Market Structures
Descripción
Business Studies Mapa Mental sobre Market Structures, creado por maddiemurchie23 el 17/04/2013.
Sin etiquetas
business studies
business studies
Mapa Mental por
maddiemurchie23
, actualizado hace más de 1 año
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Creado por
maddiemurchie23
hace más de 11 años
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Resumen del Recurso
Market Structures
Oligopoly
Characteristics
Few suppliers
Concentration ratio e.g. 3 companies have 75% of the chocolate market
High barriers of entry
Inter-dependance which could lead to cozy competition but potential for price wars
Non price competition
Formal conclusion is illegal
Example: Supermarkets
Strongly branded
High start up costs
5/6 main ones
80% of the market
Evidence they are very price competitive?
Charity work?
More examples: petrol, banking, cars, airplanes (bowing and airbus)
Monopoly
Characteristics
High prices
Very high barriers of entry
Single supplier
High market share
Slack (bad service)
Example: Hawkins (school uniform)
Monopolistic Competition
Same as perfect competition
Differentiated products
Example: Hairdressers
Competitive (perfect competition)
Characteristics
Low barriers to entry
Low prices
Many suppliers
Price competition
Homogenous products
Example: Taxi driver
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