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9444604
Market Structures
Descrição
A level Business Studies Mapa Mental sobre Market Structures, criado por dhruv bechra em 29-06-2017.
Sem etiquetas
a level
business
eduqas
longdean
business studies
a level
Mapa Mental por
dhruv bechra
, atualizado more than 1 year ago
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Criado por
dhruv bechra
aproximadamente 7 anos atrás
6
1
0
Resumo de Recurso
Market Structures
Monopoly
Single producer in market - 1 business has 100% of market share (pure monopoly).
Likely to erect barriers - prevent others from entering market.
They are price makers - have significant influence on price.
Any business with over 25% of market share is classed as a monopoly.
Oligopoly
Many businesses but only few dominate market.
Tend to have differentiated products - with strong brand identity.
Brand loyalty encouraged but advertising and promotion.
Prices normally stable - short price wars occur.
Some entry barriers - high start-up costs etc.
Monopolistic Competition
Large number of relatively small businesses.
Few barriers of entry.
Products are similar - different from each other.
Brand identity is relatively weak.
Not price takers - only have limited degree of control over prices.
Perfect Competition
Large number of businesses - no 1 business is big enough to influence other businesses.
They are price takers - due to no market/price leaders.
Goods sold are homogenous - no difference between goods from businesses.
Businesses have equal access to technology.
Consumers have full market information.
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