Market Structures Flashcards
1
Q
Competive market
A
A market in which there are a large number of sellers businesses in tese markets compete mainy on price
2
Q
Monopoly Market
A
A market dominated by a single seller
3
Q
Oligopoly
A
An oligopoly exists where a market is dominted by a few firms
4
Q
Monopolistic competiton
A
A market structure with many competing firms each of whom supplies a slightly different product
5
Q
Market dominance
A
A measure of market share compared to competitors
