Competition-competition Structures

Question 1

What is competition

Answer 1

Fight on the market occurs because of various interests

Question 2

Interests of subjects on Market

Answer 2

Households-buy most for lower price

Companies-sell most for highest price

Maximize profit, increase market share, upgrade image

Question 3

Three types of competition

Competition between

Answer 3

Companies-price(sale)
Non price- (benefits quality)

Consumers-competition on demand side(blackF/auction)

Sellers&buyers-negotiations on market (turkey market)

Question 4

Competition structure division

Answer 4

Monopoly
Oligopoly
Polypoly

Question 5

What is monopoly?

Answer 5

1company 100% market share

No competition

Negative aspects- Set higher price needs to be regulated by state

BA water company/slovnaft/M.R Stefanik Airport

Question 6

What is Oligopoly?

Answer 6

Small amount of big companies
Influence market/ price

Telecommunication/Railway/Bus

Question 7

Two types of Oligopolies

Answer 7

Absolutely concentrated-telecommunication(telecom/orange)

Relatively concentrated-1big company sets price other follow
(SK railway company/RegioJet)

Question 8

What is Polypoly?

Answer 8

Big amount of small companies with weak market share

Bars restaurants private schools beauty salons